Eagle Bancorp (NASDAQ:EGBN) Sees Large Volume Increase – Here’s Why

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) saw unusually-high trading volume on Monday . Approximately 642,875 shares were traded during trading, an increase of 113% from the previous session’s volume of 301,757 shares.The stock last traded at $22.81 and had previously closed at $22.77.

Analysts Set New Price Targets

Several brokerages have recently commented on EGBN. Piper Sandler reduced their price objective on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Keefe, Bruyette & Woods lowered their price objective on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Monday, January 27th.

Eagle Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.86. The business has a 50 day moving average price of $25.63 and a two-hundred day moving average price of $24.92. The stock has a market cap of $681.96 million, a PE ratio of -14.38 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 2.92%. Eagle Bancorp’s dividend payout ratio is -42.04%.

Institutional Trading of Eagle Bancorp

Several large investors have recently bought and sold shares of EGBN. Vanguard Group Inc. raised its holdings in Eagle Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,689,423 shares of the financial services provider’s stock worth $70,006,000 after purchasing an additional 35,255 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Eagle Bancorp by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider’s stock valued at $40,919,000 after purchasing an additional 63,702 shares during the last quarter. Fourthstone LLC boosted its position in shares of Eagle Bancorp by 382.7% in the 4th quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider’s stock worth $33,231,000 after purchasing an additional 1,012,182 shares in the last quarter. North Reef Capital Management LP grew its stake in shares of Eagle Bancorp by 251.9% in the 4th quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider’s stock worth $25,186,000 after buying an additional 692,593 shares during the last quarter. Finally, Geode Capital Management LLC increased its position 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 valued at $16,254,000 after buying an additional 25,578 shares in the last quarter. 78.03% of the stock is owned by institutional investors.

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.