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

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares saw unusually-strong trading volume on Tuesday . Approximately 523,714 shares changed 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.

Analysts Set New Price Targets

Several equities analysts have recently commented on EGBN shares. Keefe, Bruyette & Woods decreased their target price on Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Piper Sandler reduced their price target 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. Finally, StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

Eagle Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a fifty day simple moving average of $25.76 and a two-hundred day simple moving average of $24.82. The stock has a market capitalization of $720.57 million, a price-to-earnings ratio of -15.20 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results 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 negative net margin of 6.65% and a positive return on equity of 4.68%. Analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.66 annualized dividend and a yield of 2.77%. Eagle Bancorp’s payout ratio is -42.04%.

Hedge Funds Weigh In On Eagle Bancorp

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Eagle Bancorp by 1.3% in the 4th 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 during the period. Dimensional Fund Advisors LP raised its holdings in shares of Eagle Bancorp by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider’s stock worth $40,919,000 after purchasing an additional 63,702 shares during the period. Fourthstone LLC raised its holdings 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 during the period. North Reef Capital Management LP raised its holdings 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 purchasing an additional 692,593 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Eagle Bancorp by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock worth $16,254,000 after purchasing an additional 25,578 shares during the period. Institutional investors 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.