Eagle Bancorp (NASDAQ:EGBN) Sees Strong Trading Volume – Still a Buy?

Eagle Bancorp, Inc. (NASDAQ:EGBN) saw an uptick in trading volume on Monday . 642,875 shares traded hands during mid-day 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

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. Piper Sandler reduced their price objective on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research report on Friday, January 24th.

Eagle Bancorp Stock Performance

The company has a market cap of $681.96 million, a PE ratio of -14.38 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $25.63 and its 200-day moving average is $24.92.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data 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 negative net margin of 6.65% and a positive return on equity of 4.68%. As a group, research analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Eagle Bancorp

Large investors have recently added to or reduced their stakes in the company. Fourthstone LLC raised its holdings in Eagle Bancorp by 382.7% during the fourth quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider’s stock valued at $33,231,000 after acquiring an additional 1,012,182 shares during the period. North Reef Capital Management LP grew its position in shares of Eagle Bancorp by 251.9% during the fourth 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Eagle Bancorp by 69.5% during the 4th quarter. JPMorgan Chase & Co. now owns 268,214 shares of the financial services provider’s stock valued at $6,982,000 after purchasing an additional 109,960 shares during the period. Algert Global LLC lifted its holdings in Eagle Bancorp by 146.4% in the 3rd quarter. Algert Global LLC now owns 154,462 shares of the financial services provider’s stock worth $3,488,000 after purchasing an additional 91,782 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Eagle Bancorp by 14.7% in the 4th quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider’s stock worth $16,872,000 after purchasing an additional 83,305 shares during the period. Hedge funds and other 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.