Eagle Bancorp (NASDAQ:EGBN) Stock Price Down 11.8%

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s share price fell 11.8% during mid-day trading on Thursday . The stock traded as low as $18.81 and last traded at $19.61. 121,068 shares changed hands during trading, a decline of 58% from the average session volume of 287,461 shares. The stock had previously closed at $22.24.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday.

Eagle Bancorp Trading Down 2.8 %

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.01 and a quick ratio of 0.97. The business’s 50 day moving average price is $22.56 and its 200-day moving average price is $24.10. The firm has a market capitalization of $580.94 million, a price-to-earnings ratio of 7.73 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 6.11% and a net margin of 11.14%. The company had revenue of $75.89 million for the quarter, compared to analyst estimates of $75.67 million. Equities analysts forecast that Eagle Bancorp, Inc. will post 2.32 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, April 18th will be given a $0.45 dividend. The ex-dividend date is Wednesday, April 17th. This represents a $1.80 annualized dividend and a dividend yield of 9.27%. Eagle Bancorp’s dividend payout ratio is presently 71.71%.

Insider Activity

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. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Eagle Bancorp by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,387 shares of the financial services provider’s stock valued at $9,832,000 after purchasing an additional 38,678 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Eagle Bancorp by 138.5% during the 3rd quarter. New York State Common Retirement Fund now owns 30,637 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 17,793 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Eagle Bancorp during the 3rd quarter valued at about $692,000. Gamco Investors INC. ET AL lifted its stake in shares of Eagle Bancorp by 8.4% in the 3rd quarter. Gamco Investors INC. ET AL now owns 322,599 shares of the financial services provider’s stock worth $6,920,000 after acquiring an additional 24,931 shares during the period. Finally, Verdad Advisers LP acquired a new stake in shares of Eagle Bancorp in the 3rd quarter worth approximately $869,000. 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.