Eagle Bancorp (NASDAQ:EGBN) Trading Up 5.3% – Still a Buy?

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares rose 5.3% on Friday . The company traded as high as $24.07 and last traded at $24.00. Approximately 78,090 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 316,572 shares. The stock had previously closed at $22.80.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their target price on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Eagle Bancorp Trading Up 3.9 %

The company has a market cap of $715.20 million, a price-to-earnings ratio of 9.44 and a beta of 1.09. The business has a fifty day simple moving average of $21.40 and a 200 day simple moving average of $20.42. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The firm had revenue of $175.06 million during the quarter, compared to analysts’ expectations of $80.90 million. During the same quarter last year, the business earned $0.94 earnings per share. On average, equities analysts anticipate that Eagle Bancorp, Inc. will post 1.46 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Monday, October 21st. Eagle Bancorp’s dividend payout ratio is currently 26.29%.

Hedge Funds Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in Eagle Bancorp in the first quarter valued at $26,000. Point72 Asset Management L.P. acquired a new stake in Eagle Bancorp in the 2nd quarter valued at about $35,000. Carmichael Hill & Associates Inc. grew its stake in Eagle Bancorp by 36.1% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 721 shares during the last quarter. GAMMA Investing LLC increased its holdings in Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Eagle Bancorp during the second quarter worth about $89,000. 78.03% of the stock is owned by institutional investors and hedge funds.

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.