State of Alaska Department of Revenue raised its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 145.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,535 shares of the financial services provider’s stock after acquiring an additional 15,729 shares during the period. State of Alaska Department of Revenue’s holdings in Eagle Bancorp were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. boosted its stake in Eagle Bancorp by 5.5% in the second quarter. Zions Bancorporation N.A. now owns 3,729 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 194 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Eagle Bancorp in the second quarter valued at $203,000. Marshall Wace North America L.P. acquired a new position in Eagle Bancorp in the first quarter valued at $189,000. Cubist Systematic Strategies LLC acquired a new position in Eagle Bancorp in the second quarter valued at $302,000. Finally, Aperio Group LLC boosted its stake in Eagle Bancorp by 3.9% in the second quarter. Aperio Group LLC now owns 7,420 shares of the financial services provider’s stock valued at $402,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 74.63% of the company’s stock.
In other news, EVP Antonio F. Marquez sold 2,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $41.79, for a total transaction of $104,475.00. Following the completion of the sale, the executive vice president now owns 27,799 shares in the company, valued at $1,161,720.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.25% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on EGBN shares. Janney Montgomery Scott downgraded shares of Eagle Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Boenning Scattergood restated a “buy” rating and issued a $48.00 price objective on shares of Eagle Bancorp in a research note on Sunday, July 21st. ValuEngine upgraded shares of Eagle Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, Sandler O’Neill restated a “hold” rating on shares of Eagle Bancorp in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Eagle Bancorp currently has an average rating of “Hold” and a consensus target price of $54.20.
Shares of EGBN opened at $42.41 on Friday. Eagle Bancorp, Inc. has a fifty-two week low of $37.08 and a fifty-two week high of $60.77. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. The firm has a 50-day simple moving average of $42.51 and a 200-day simple moving average of $48.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.04 and a current ratio of 1.05.
Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.05). Eagle Bancorp had a return on equity of 13.77% and a net margin of 33.71%. The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $82.37 million. During the same quarter last year, the company posted $1.09 EPS. Eagle Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Eagle Bancorp, Inc. will post 4.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. Eagle Bancorp’s dividend payout ratio (DPR) is 19.91%.
Eagle Bancorp Profile
Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.
Featured Story: What is Cost of Debt?
Want to see what other hedge funds are holding EGBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Bancorp, Inc. (NASDAQ:EGBN).
Receive News & Ratings for Eagle Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.