Eagle Bancorp (NASDAQ:EGBN) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Eagle Bancorp (NASDAQ:EGBNFree Report) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

Eagle Bancorp Trading Up 2.8 %

EGBN stock opened at $17.05 on Friday. The firm has a market cap of $514.74 million, a PE ratio of 6.92 and a beta of 1.07. Eagle Bancorp has a 1 year low of $16.24 and a 1 year high of $31.97. The company has a fifty day simple moving average of $19.85 and a 200 day simple moving average of $23.62.

Eagle Bancorp (NASDAQ:EGBNGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.60). The company had revenue of $78.29 million for the quarter, compared to the consensus estimate of $75.51 million. Eagle Bancorp had a net margin of 11.14% and a return on equity of 6.11%. As a group, analysts forecast that Eagle Bancorp will post 1.36 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, April 18th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.80 dividend on an annualized basis and a yield of 10.56%. Eagle Bancorp’s payout ratio is currently 71.71%.

Insider Activity

In other news, CEO Susan G. Riel acquired 5,260 shares of the firm’s 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 acquisition, the chief executive officer now owns 332,210 shares in the company, valued at $6,222,293.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 8,082 shares of company stock valued at $147,773 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eagle Bancorp

Several large investors have recently made changes to their positions in the business. New York State Common Retirement Fund increased its position in Eagle Bancorp by 138.5% in the 3rd quarter. New York State Common Retirement Fund now owns 30,637 shares of the financial services provider’s stock worth $657,000 after buying an additional 17,793 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Eagle Bancorp during the third quarter worth $204,000. Janney Montgomery Scott LLC raised its stake in Eagle Bancorp by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,496 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 4,411 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Eagle Bancorp by 8.6% in the 3rd quarter. Gabelli Funds LLC now owns 38,000 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 3,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Eagle Bancorp by 9.2% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

(Get Free Report)

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.

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