Eagle Bancorp (NASDAQ:EGBN) Sees Large Volume Increase – Time to Buy?

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares saw unusually-high trading volume on Tuesday . Approximately 523,714 shares traded hands during mid-day trading, an increase of 110% from the previous session’s volume of 248,817 shares.The stock last traded at $25.12 and had previously closed at $25.65.

Analyst Ratings Changes

EGBN has been the topic of several recent analyst reports. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods decreased their target price on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. Finally, Piper Sandler decreased their target price on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a report on Friday, January 24th.

Eagle Bancorp Stock Performance

The firm’s fifty day moving average price is $26.04 and its 200 day moving average price is $24.79. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $759.53 million, a price-to-earnings ratio of -16.02 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. Analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $0.165 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 2.62%. Eagle Bancorp’s dividend payout ratio is currently -42.04%.

Hedge Funds Weigh In On Eagle Bancorp

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Eagle Bancorp by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock worth $16,254,000 after buying an additional 25,578 shares during the period. Empowered Funds LLC increased its stake in Eagle Bancorp by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock worth $639,000 after buying an additional 1,340 shares during the period. HighTower Advisors LLC increased its stake in Eagle Bancorp by 4.3% during the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock worth $247,000 after buying an additional 450 shares during the period. Nisa Investment Advisors LLC increased its stake in Eagle Bancorp by 934.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 26,346 shares of the financial services provider’s stock worth $686,000 after buying an additional 23,800 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Eagle Bancorp by 41.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock worth $1,256,000 after buying an additional 16,338 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

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.