Eagle Bancorp, Inc. (NASDAQ: EGBN- Get a rating) announced a quarterly dividend on Tuesday, September 20, Zacks reports. Shareholders of record on Monday, October 10 will receive a dividend of 0.45 per share from the financial services provider on Monday, October 31. This represents an annualized dividend of $1.80 and a yield of 3.82%. The ex-date of this dividend is Thursday, October 6.
Eagle Bancorp has a payout ratio of 36.1%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Eagle Bancorp to earn $5.05 per share next year, meaning the company should continue to be able to cover its $1.80 annual dividend. with an expected future payout ratio of 35.6%.
Eagle Bancorp is trading down 0.9%
Eagle Bancorp shares opened at $47.12 on Thursday. Eagle Bancorp has a 12-month low of $44.85 and a 12-month high of $63.84. The company’s fifty-day simple moving average is $48.22 and its two-hundred-day simple moving average is $50.51. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt ratio of 0.06. The company has a market capitalization of $1.51 billion, a price-earnings ratio of 9.70 and a beta of 0.92.
Eagle Bancorp (NASDAQ:EGBN – Get a rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported earnings per share of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a return on equity of 13.01% and a net margin of 39.92%. The company posted revenue of $88.48 million in the quarter, compared to analysts’ expectations of $91.00 million. In the same quarter of the previous year, the company achieved EPS of $1.50. As a group, equity analysts predict Eagle Bancorp will post earnings per share of 4.97 for the current fiscal year.
Eagle Bancorp Institutional Negotiation
A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Eagle Bancorp by 2.3% during the second quarter. Legal & General Group Plc now owns 92,779 shares of the financial services provider valued at $4,398,000 after acquiring 2,061 additional shares in the last quarter. Goldman Sachs Group Inc. increased its position in Eagle Bancorp by 178.6% during the second quarter. Goldman Sachs Group Inc. now owns 174,169 shares of the financial services provider valued at $8,257,000 after acquiring an additional 111,664 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Eagle Bancorp by 50.6% during the second quarter. Thrivent Financial for Lutherans now owns 39,172 shares of the financial services provider valued at $1,857,000 after acquiring an additional 13,165 shares in the last quarter. Price T Rowe Associates Inc. ® increased its position in Eagle Bancorp by 1.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 19,864 shares of the financial services provider valued at $942,000 after acquiring 230 additional shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Eagle Bancorp by 114.7% during the second quarter. AQR Capital Management LLC now owns 54,849 shares of the financial services provider valued at $2,600,000 after acquiring an additional 29,307 shares in the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s shares.
Wall Street analysts predict growth
Separately, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday.
About Eagle Bancorp
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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