Eagle Bancorp, Inc. (NASDAQ:EGBN) Increases Dividend to $0.45 Per Share

Eagle Bancorp, Inc. (NASDAQ:EGBNGet Rating) declared a quarterly dividend on Thursday, June 16th, Zacks reports. Stockholders of record on Monday, July 11th will be given a dividend of 0.45 per share by the financial services provider on Friday, July 29th. This represents a $1.80 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Friday, July 8th. This is a boost from Eagle Bancorp’s previous quarterly dividend of $0.40.

Eagle Bancorp has a dividend payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eagle Bancorp to earn $5.07 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 31.6%.

Shares of EGBN stock opened at $45.93 on Friday. Eagle Bancorp has a fifty-two week low of $44.85 and a fifty-two week high of $63.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty day moving average is $50.21 and its two-hundred day moving average is $55.77. The firm has a market capitalization of $1.47 billion, a P/E ratio of 8.23 and a beta of 0.98.

Eagle Bancorp (NASDAQ:EGBNGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.36. The firm had revenue of $87.91 million for the quarter, compared to the consensus estimate of $86.40 million. Eagle Bancorp had a net margin of 45.21% and a return on equity of 13.59%. During the same period last year, the firm posted $1.36 earnings per share. On average, equities analysts forecast that Eagle Bancorp will post 4.98 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its position in shares of Eagle Bancorp by 190.6% during the 1st quarter. Jane Street Group LLC now owns 11,685 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 7,664 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Eagle Bancorp by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,505 shares of the financial services provider’s stock worth $3,564,000 after purchasing an additional 11,728 shares during the period. Captrust Financial Advisors boosted its position in shares of Eagle Bancorp by 74.6% during the 1st quarter. Captrust Financial Advisors now owns 2,353 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 1,005 shares during the period. State Street Corp boosted its position in shares of Eagle Bancorp by 9.7% during the 1st quarter. State Street Corp now owns 1,368,799 shares of the financial services provider’s stock worth $78,035,000 after purchasing an additional 120,501 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Eagle Bancorp by 95.6% during the 1st quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider’s stock worth $17,376,000 after purchasing an additional 148,941 shares during the period. Institutional investors and hedge funds own 73.83% of the company’s stock.

Separately, StockNews.com initiated coverage on Eagle Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

About Eagle Bancorp (Get Rating)

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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Dividend History for Eagle Bancorp (NASDAQ:EGBN)

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