Eagle Bancorp (NASDAQ:EGBN) hits a new 1-year low at $45.00

Eagle Bancorp, Inc. (NASDAQ:EGBNget rating) shares hit a new 52-week low during trading on Thursday. The stock traded as low as $45.00 and last time traded at $45.08, with a volume of 1032 shares traded. The stock had previously closed at $46.65.

Separately, StockNews.com assumed coverage of the shares of Eagle Bancorp in a research report on Thursday, March 31. They set a “hold” rating on the stock.

The stock has a market capitalization of $1.45 billion, a PE ratio of 8.36, and a beta of 0.98. The stock has a 50-day moving average of $50.56 and a 200-day moving average of $55.92. The company has a quick ratio of 0.80, a current ratio of 0.80, and a debt-to-equity ratio of 0.06.

Bancorp Eagle (NASDAQ:EGBNget rating) last posted its earnings results on Wednesday, April 20. The financial services provider reported earnings per share (EPS) of $1.42 for the quarter, beating analyst consensus estimates of $1.06 by $0.36. Eagle Bancorp had a return on equity of 13.63% and a net margin of 45.21%. The business had revenue of $87.91 million in the quarter, compared to analyst estimates of $86.40 million. During the same quarter of the previous year, the company recorded an earnings per share of $1.36. Stock research analysts forecast Eagle Bancorp, Inc. to post earnings per share of 4.98 for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29. Investors registered on Monday, April 11 received a dividend of $0.40 per share. The ex-dividend date was Friday, April 8. This represents an annualized dividend of $1.60 and a yield of 3.54%. Eagle Bancorp’s dividend payout ratio is currently 28.67%.

Several hedge funds have recently changed their holdings in EGBN. Norges Bank purchased a new position in Eagle Bancorp in the fourth quarter valued at about $25,436,000. Invesco Ltd. strengthened its position in Eagle Bancorp shares by 95.6% in the first quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider worth $17,376,000 after acquiring an additional 148,941 shares during the last quarter. Millennium Management LLC increased its stake in Eagle Bancorp stock by 357.9% during the fourth quarter. Millennium Management LLC now owns 165,206 shares of the financial services provider worth $9,638,000 after purchasing an additional 129,126 shares during the last quarter. State Street Corp increased its stake in Eagle Bancorp by 9.7% during the first quarter. State Street Corp now owns 1,368,799 shares of the financial services provider worth $78,035,000 after acquiring an additional 120,501 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Eagle Bancorp stock by 7.9% in the first quarter. Victory Capital Management Inc. now owns 1,577,404 shares of the financial services provider worth $89,480,000 after purchasing an additional 115,267 shares during the period. 73.83% of the shares are owned by institutional investors and hedge funds.

About Eagle Bancorp (NASDAQ:EGBN)

Eagle Bancorp, Inc operates as the banking holding company for EagleBank providing commercial and consumer banking services primarily in the United States. The company also offers several consumer and business loan products including business 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; commercial 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.

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