Eagle Bancorp Announces Big Share Buyback

After the closing bell, Eagle Bancorp (EGBN) issued a press release which touched on two items. The first is that the bank is paying out a quarterly dividend of 22 cents per share. That’s not really news because Eagle has paid a 22-cent dividend for several quarters. The cash dividend will be payable on February 1 to shareholders of record on January 8.

The other item is that the Board of Directors adopted a new share repurchase program. The new program will start on January 1. The board authorized Eagle to buy back 15.89 million shares of stock. That’s about 5% of the outstanding shares. Eagle currently has 31.78 million shares outstanding as of December 16.

Over the last three months, shares of Eagle have gained more than 63%.

Posted by on December 17th, 2020 at 10:24 pm


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