Eagle Bancorp (NASDAQ:EGBN) Sets New 12-Month High – Still a Buy?

Eagle Bancorp, Inc. (NASDAQ:EGBN) reached a new 52-week high during trading on Monday. The stock traded as high as $34.21 and last traded at $34.08, with a volume of 33,955 shares trading hands. The stock had previously closed at $33.28.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eagle Bancorp in a report on Wednesday, September 2nd. Finally, Hovde Group started coverage on shares of Eagle Bancorp in a report on Wednesday, October 7th. They set an “outperform” rating and a $37.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.00.

Eagle Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50-day simple moving average of $28.74 and a 200 day simple moving average of $27.07. The firm has a market cap of $1.04 billion, a PE ratio of 19.49 and a beta of 0.97.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.34 by $0.45. Eagle Bancorp had a return on equity of 4.66% and a net margin of 9.30%. The firm had revenue of $70.87 million for the quarter, compared to the consensus estimate of $71.78 million. Equities research analysts forecast that Eagle Bancorp, Inc. will post 1.84 EPS for the current year.

Eagle Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, November 6th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, November 6th. Eagle Bancorp’s dividend payout ratio is currently 2.29%.

Hedge Funds Weigh In On Eagle Bancorp

Several large investors have recently added to or reduced their stakes in EGBN. Stone Point Capital LLC purchased a new stake in shares of Eagle Bancorp during the second quarter worth about $21,660,548,000. Wellington Management Group LLP raised its stake in Eagle Bancorp by 5.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider’s stock valued at $35,014,000 after purchasing an additional 68,314 shares during the period. Bank of New York Mellon Corp bought a new position in Eagle Bancorp in the 2nd quarter worth approximately $4,678,000. Hsbc Holdings PLC bought a new position in Eagle Bancorp in the 4th quarter worth approximately $535,000. Finally, Quantinno Capital Management LP grew its holdings in Eagle Bancorp by 15.2% during the 1st quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock valued at $4,673,000 after buying an additional 24,842 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial banking institution headquartered in Bethesda, Maryland. Founded in 1998, EagleBank serves businesses, professional practices, nonprofit organizations and individual customers primarily in the Washington, DC, metropolitan region, including communities in Maryland and Northern Virginia.

EagleBank provides commercial and retail banking services, including business and personal checking and savings accounts, commercial real estate lending, construction financing, commercial and industrial loans, residential mortgages and other credit products.