IndexIQ Advisors LLC reduced its position in shares of Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) by 12.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The company held 6,958 shares of the financial services provider after selling 979 shares during the period. IndexIQ Advisors LLC’s holdings in Eagle Bancorp were worth $397,000 at the end of the last quarter.
Other institutional investors have also recently changed their positions in the company. Pinebridge Investments LP purchased a new equity stake in Eagle Bancorp during the fourth quarter for approximately $76,000. Inspire Investing LLC acquired a new equity stake in Eagle Bancorp in the first quarter worth approximately $236,000. Mutual of America Capital Management LLC raised its position in Eagle Bancorp shares by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 4,603 shares of the financial services provider valued at $262,000 after buying 238 additional shares last quarter. Bellecapital International Ltd. acquired a new stake in shares of Eagle Bancorp in the first quarter valued at approximately $280,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new equity stake in Eagle Bancorp in the first quarter valued at approximately $343,000. Institutional investors hold 73.83% of the company’s shares.
Changes to analyst ratings
Separately, StockNews.com downgraded shares of Eagle Bancorp from a “hold” to a “sell” rating in a Friday, July 22 research report.
Eagle Bancorp Stock up 0.5%
NASDAQ EGBN opened at $47.83 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt ratio of 0.06. Eagle Bancorp, Inc. has a 1-year low of $44.85 and a 1-year high of $63.84. The company has a 50-day moving average of $47.44 and a 200-day moving average of $52.90. The company has a market capitalization of $1.53 billion, a price-earnings ratio of 9.84 and a beta of 0.94.
Eagle Bancorp (NASDAQ: EGBN – Get a rating) last reported quarterly earnings data on Wednesday, July 20. The financial services provider reported EPS of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a net margin of 39.92% and a return on equity of 12.98%. The company posted revenue of $88.48 million for the quarter, versus analyst estimates of $91.00 million. In the same quarter a year earlier, the company had earned earnings per share of $1.50. On average, equity research analysts expect Eagle Bancorp, Inc. to post earnings per share of 4.5 for the current fiscal year.
Eagle Bancorp increases its dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Monday, July 11 received a dividend of $0.45 per share. This is an increase from Eagle Bancorp’s previous quarterly dividend of $0.40. This represents an annualized dividend of $1.80 and a yield of 3.76%. The ex-dividend date was Friday, July 8. Eagle Bancorp’s payout ratio is currently 37.04%.
Eagle Bancorp Company Profile
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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