Eagle Bancorp (NASDAQ:EGBN) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.71 and traded as high as $27.17. Eagle Bancorp shares last traded at $26.89, with a volume of 341,955 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EGBN shares. Piper Sandler raised their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Zacks Research lowered shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Raymond James Financial initiated coverage on shares of Eagle Bancorp in a research note on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.00.

Eagle Bancorp Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average of $26.99 and a 200-day moving average of $25.75. The stock has a market cap of $829.60 million, a PE ratio of -7.18 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.20. Eagle Bancorp had a negative return on equity of 10.03% and a negative net margin of 18.65%.The company had revenue of $76.40 million for the quarter, compared to the consensus estimate of $77.37 million. Research analysts predict that Eagle Bancorp, Inc. will post 1.79 EPS for the current year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $0.01 per share. The ex-dividend date was Monday, May 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -1.06%.

Hedge Funds Weigh In On Eagle Bancorp

Several hedge funds have recently modified their holdings of the stock. North Reef Capital Management LP boosted its holdings in shares of Eagle Bancorp by 558.2% during the 3rd quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock valued at $53,238,000 after purchasing an additional 2,232,918 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Eagle Bancorp by 851.2% during the third quarter. JPMorgan Chase & Co. now owns 143,480 shares of the financial services provider’s stock valued at $2,901,000 after purchasing an additional 128,396 shares in the last quarter. Sippican Capital Advisors increased its holdings in shares of Eagle Bancorp by 161.3% in the fourth quarter. Sippican Capital Advisors now owns 98,680 shares of the financial services provider’s stock worth $2,114,000 after purchasing an additional 60,920 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Eagle Bancorp in the fourth quarter worth about $495,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Eagle Bancorp in the fourth quarter worth about $394,000. 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 bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.