Eagle Bancorp, Inc. (NASDAQ:EGBN) Declares Quarterly Dividend of $0.45

Eagle Bancorp, Inc. (NASDAQ:EGBN) announced a quarterly dividend on Thursday, March 28th, Zacks reports. Investors of record on Thursday, April 18th will be paid a dividend of 0.45 per share by the financial services provider on Tuesday, April 30th. This represents a $1.80 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date is Wednesday, April 17th.

Eagle Bancorp has raised its dividend payment by an average of 26.9% annually over the last three years. Eagle Bancorp has a payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eagle Bancorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 67.9%.

Eagle Bancorp Trading Up 0.6 %

NASDAQ EGBN opened at $21.33 on Monday. Eagle Bancorp has a one year low of $16.72 and a one year high of $32.45. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s fifty day moving average is $22.99 and its two-hundred day moving average is $24.11. The firm has a market cap of $638.41 million, a PE ratio of 6.46 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.09). Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. The company had revenue of $75.89 million for the quarter, compared to analyst estimates of $75.67 million. Analysts expect that Eagle Bancorp will post 2.32 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th.

Insider Buying and Selling at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the company’s stock in a transaction that occurred on 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 owns 9,075 shares of the company’s stock, valued at $208,543.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Eagle Bancorp by 20.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 258,406 shares of the financial services provider’s stock worth $7,788,000 after purchasing an additional 43,553 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Eagle Bancorp by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,035 shares of the financial services provider’s stock worth $876,000 after purchasing an additional 1,120 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Eagle Bancorp during the fourth quarter worth approximately $623,000. Legal & General Group Plc increased its position in shares of Eagle Bancorp by 11.5% in the fourth quarter. Legal & General Group Plc now owns 93,405 shares of the financial services provider’s stock worth $2,815,000 after acquiring an additional 9,627 shares in the last quarter. Finally, Barclays PLC boosted its stake in Eagle Bancorp by 4.4% during the 4th quarter. Barclays PLC now owns 90,493 shares of the financial services provider’s stock valued at $2,727,000 after acquiring an additional 3,825 shares during the last quarter. 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.