Eagle Bancorp (NASDAQ:EGBN) Shares Gap Up – Here’s What Happened

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) gapped up before the market opened on Tuesday . The stock had previously closed at $19.41, but opened at $19.90. Eagle Bancorp shares last traded at $19.99, with a volume of 12,457 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EGBN shares. Piper Sandler cut their price objective on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods decreased their price target on Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

Eagle Bancorp Trading Up 0.7 %

The business has a 50-day moving average of $21.88 and a 200-day moving average of $24.82. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The stock has a market cap of $607.10 million, a price-to-earnings ratio of -12.80 and a beta of 1.04.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. As a group, research analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 3.28%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -42.04%.

Insider Activity

In related news, CFO Eric R. Newell bought 1,170 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $21.37 per share, with a total value of $25,002.90. Following the completion of the transaction, the chief financial officer now directly owns 28,733 shares of the company’s stock, valued at $614,024.21. This trade represents a 4.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eagle Bancorp

A number of institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after buying an additional 775 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Eagle Bancorp in the fourth quarter valued at about $51,000. Millstone Evans Group LLC bought a new position in shares of Eagle Bancorp in the fourth quarter worth about $59,000. Russell Investments Group Ltd. lifted its position in shares of Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 933 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Eagle Bancorp by 45.7% during the 4th quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

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.