Eagle Bancorp (NASDAQ:EGBN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a sell rating to a hold rating in a research note released on Friday morning.

Eagle Bancorp Stock Performance

EGBN stock traded up $0.24 during mid-day trading on Friday, reaching $20.03. 251,242 shares of the stock traded hands, compared to its average volume of 324,673. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 1.33. Eagle Bancorp has a 52 week low of $16.72 and a 52 week high of $31.97. The business has a 50-day moving average of $22.00 and a two-hundred day moving average of $24.07. The firm has a market capitalization of $599.50 million, a PE ratio of 7.98 and a beta of 1.05.

Eagle Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, April 18th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date was Wednesday, April 17th. Eagle Bancorp’s dividend payout ratio (DPR) is 71.71%.

Insider Buying and Selling at Eagle Bancorp

In other news, CEO Susan G. Riel purchased 5,260 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was bought at an average cost of $18.73 per share, for a total transaction of $98,519.80. Following the completion of the acquisition, the chief executive officer now directly owns 332,210 shares of the company’s stock, valued at $6,222,293.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Susan G. Riel acquired 5,260 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average price of $18.73 per share, with a total value of $98,519.80. Following the completion of the transaction, the chief executive officer now owns 332,210 shares of the company’s stock, valued at $6,222,293.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lindsey S. Rheaume sold 22,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total transaction of $505,560.00. Following the transaction, the executive vice president now directly owns 9,075 shares of the company’s stock, valued at approximately $208,543.50. The disclosure for this sale can be found here. Insiders bought 6,082 shares of company stock worth $114,283 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Eagle Bancorp by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,387 shares of the financial services provider’s stock worth $9,832,000 after purchasing an additional 38,678 shares in the last quarter. New York State Common Retirement Fund raised its position in Eagle Bancorp by 138.5% in the third quarter. New York State Common Retirement Fund now owns 30,637 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 17,793 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Eagle Bancorp in the third quarter worth about $692,000. Gamco Investors INC. ET AL raised its position in Eagle Bancorp by 8.4% in the third quarter. Gamco Investors INC. ET AL now owns 322,599 shares of the financial services provider’s stock worth $6,920,000 after purchasing an additional 24,931 shares in the last quarter. Finally, Verdad Advisers LP acquired a new position in Eagle Bancorp in the third quarter worth about $869,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.