Eagle Bancorp (NASDAQ:EGBN) Sees Strong Trading Volume - Here's What Happened

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) saw strong trading volume on Monday . 642,875 shares traded hands 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EGBN. Keefe, Bruyette & Woods reduced their price target on shares of Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. Piper Sandler cut their target price on shares of 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 firm has a 50-day simple moving average of $25.31 and a two-hundred day simple moving average of $24.96. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $690.27 million, a price-to-earnings ratio of -14.56 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share 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%. As a group, sell-side analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

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Eagle Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $0.165 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.89%. Eagle Bancorp's dividend payout ratio is currently -42.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EGBN. Fourthstone LLC boosted its position 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 worth $33,231,000 after purchasing an additional 1,012,182 shares during the period. North Reef Capital Management LP lifted its stake in shares of Eagle Bancorp by 251.9% in 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 buying an additional 692,593 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Eagle Bancorp by 69.5% during the 4th quarter. JPMorgan Chase & Co. now owns 268,214 shares of the financial services provider's stock worth $6,982,000 after buying an additional 109,960 shares during the period. Algert Global LLC grew its stake 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 valued at $3,488,000 after buying an additional 91,782 shares during the last quarter. Finally, American Century Companies Inc. grew 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 valued at $16,872,000 after buying an additional 83,305 shares during the last quarter. Institutional investors and hedge funds 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.