Eagle Bancorp, Inc. (NASDAQ: EGBN- Get a rating) declared a quarterly dividend on Thursday, June 16, Zacks reports. Shareholders of record on Monday July 11 will receive a dividend of 0.45 per share from the financial services provider on Friday July 29. This represents an annualized dividend of $1.80 and a dividend yield of 3.92%. The ex-dividend date is Friday, July 8. This is a boost from Eagle Bancorp’s previous quarterly dividend of $0.40.
Eagle Bancorp has a dividend payout ratio of 31.2%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eagle Bancorp to earn $5.07 per share next year, meaning the company should continue to be able to cover its $1.60 annual dividend with a ratio expected future payout of 31.6%.
Shares of EGBN opened at $45.93 on Friday. Eagle Bancorp has a fifty-two week low of $44.85 and a fifty-two week high of $63.84. The company has a debt ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty-day moving average is $50.21 and its two-hundred-day moving average is $55.77. The company has a market capitalization of $1.47 billion, a P/E ratio of 8.23 and a beta of 0.98.
Eagle Bancorp (NASDAQ:EGBN – Get a rating) last released its quarterly results on Wednesday, April 20. The financial services provider reported earnings per share of $1.42 for the quarter, beating the consensus estimate of $1.06 by $0.36. The company posted revenue of $87.91 million for the quarter, versus a consensus estimate of $86.40 million. Eagle Bancorp had a net margin of 45.21% and a return on equity of 13.59%. During the same period last year, the company posted earnings per share of $1.36. On average, stock analysts expect Eagle Bancorp to post earnings per share of 4.98 for the current year.
Several hedge funds and other institutional investors have recently changed their positions in the company. Jane Street Group LLC increased its position in Eagle Bancorp shares by 190.6% during the first quarter. Jane Street Group LLC now owns 11,685 shares of the financial services provider worth $666,000 after purchasing an additional 7,664 shares during the period. Goldman Sachs Group Inc. increased its position in Eagle Bancorp shares by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 62,505 shares of the financial services provider worth $3,564,000 after purchasing an additional 11,728 shares during the period. Captrust Financial Advisors increased its position in Eagle Bancorp shares by 74.6% during the first quarter. Captrust Financial Advisors now owns 2,353 shares of the financial services provider worth $134,000 after purchasing an additional 1,005 shares during the period. State Street Corp increased its position in Eagle Bancorp shares by 9.7% in the first quarter. State Street Corp now owns 1,368,799 shares of the financial services provider worth $78,035,000 after purchasing an additional 120,501 shares during the period. Finally, Invesco Ltd. increased its position in Eagle Bancorp shares by 95.6% during the 1st quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider worth $17,376,000 after purchasing an additional 148,941 shares during the period. Institutional investors and hedge funds own 73.83% of the company’s shares.
Separately, StockNews.com launched a coverage on Eagle Bancorp in a research report on Thursday, March 31. They have set a “holding” rating on the stock.
About Eagle Bancorp (Get a rating)
Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various consumer and commercial loan products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.
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