Eagle Bancorp (NASDAQ:EGBN) PT Raised to $22.00

Eagle Bancorp (NASDAQ:EGBN) had its price target raised by Keefe, Bruyette & Woods from $20.00 to $22.00 in a research report sent to investors on Monday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, StockNews.com cut shares of Eagle Bancorp from a hold rating to a sell rating in a report on Sunday, June 9th.

Eagle Bancorp Trading Down 6.3 %

Shares of EGBN opened at $20.16 on Monday. Eagle Bancorp has a 12 month low of $15.99 and a 12 month high of $31.97. The firm’s 50 day moving average is $18.99 and its 200-day moving average is $21.46. The stock has a market capitalization of $608.63 million, a PE ratio of 8.03 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.67 EPS for the quarter, topping 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 company had revenue of $175.06 million for the quarter, compared to analysts’ expectations of $80.90 million. During the same period last year, the firm earned $0.94 earnings per share. Equities research analysts predict that Eagle Bancorp will post 1.03 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Saturday, July 20th were given a dividend of $0.45 per share. The ex-dividend date was Friday, July 19th. This represents a $1.80 annualized dividend and a dividend yield of 8.93%. Eagle Bancorp’s dividend payout ratio is 71.71%.

Insider Buying and Selling

In other news, Director A. Leslie Ludwig purchased 1,500 shares of Eagle Bancorp stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $16.89 per share, for a total transaction of $25,335.00. Following the transaction, the director now owns 41,413 shares of the company’s stock, valued at approximately $699,465.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have bought 3,500 shares of company stock worth $58,825. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

Large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its position in shares of Eagle Bancorp by 434.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,699 shares of the financial services provider’s stock worth $1,097,000 after acquiring an additional 37,957 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in Eagle Bancorp in the fourth quarter valued at approximately $7,801,000. Empowered Funds LLC acquired a new stake in Eagle Bancorp in the first quarter valued at approximately $591,000. Vanguard Group Inc. boosted its position in Eagle Bancorp by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock valued at $101,351,000 after buying an additional 126,085 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Eagle Bancorp by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,083 shares of the financial services provider’s stock valued at $14,982,000 after buying an additional 38,696 shares in 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.