Eagle Bancorp (NASDAQ:EGBN) Upgraded to “Hold” by StockNews.com

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

Eagle Bancorp Stock Up 0.3 %

EGBN stock opened at $20.09 on Friday. The stock’s 50 day simple moving average is $21.94 and its 200 day simple moving average is $24.13. The company has a market cap of $601.29 million, a P/E ratio of 8.00 and a beta of 1.05. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.97 and a current ratio of 1.01. Eagle Bancorp has a fifty-two week low of $16.72 and a fifty-two week high of $31.97.

Eagle Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, April 18th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.96%. Eagle Bancorp’s dividend payout ratio is presently 71.71%.

Insider Activity at Eagle Bancorp

In related news, CEO Susan G. Riel purchased 5,260 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average cost of $18.73 per share, with a total value of $98,519.80. Following the transaction, the chief executive officer now owns 332,210 shares of the company’s stock, valued at approximately $6,222,293.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Susan G. Riel acquired 5,260 shares of Eagle Bancorp stock in a transaction on Tuesday, April 30th. The stock was acquired at an average cost of $18.73 per share, with a total value of $98,519.80. Following the transaction, the chief executive officer now owns 332,210 shares of the company’s stock, valued at approximately $6,222,293.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lindsey S. Rheaume sold 22,000 shares of the 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 completion of the sale, the executive vice president now 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 have purchased a total of 6,082 shares of company stock valued at $114,283 over the last 90 days. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

Several institutional investors have recently bought and sold shares of EGBN. SG Americas Securities LLC purchased a new position in Eagle Bancorp in the third quarter valued at approximately $194,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Eagle Bancorp by 18.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,340 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 828 shares during the last quarter. Strs Ohio lifted its stake in Eagle Bancorp by 291.3% in the third quarter. Strs Ohio now owns 27,000 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 20,100 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Eagle Bancorp in the third quarter valued at approximately $32,000. Finally, Nisa Investment Advisors LLC lifted its stake in Eagle Bancorp by 204.7% in the third quarter. Nisa Investment Advisors LLC now owns 5,954 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors 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.