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

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.19 and traded as high as $28.71. Eagle Bancorp shares last traded at $28.42, with a volume of 337,056 shares trading hands.

Wall Street Analyst Weigh In

EGBN has been the subject of a number of research analyst reports. Raymond James Financial assumed coverage on shares of Eagle Bancorp in a research report on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 price objective for the company. Piper Sandler raised their price target on Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Research downgraded Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. Finally, Wall Street Zen upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Eagle Bancorp has an average rating of “Hold” and an average target price of $29.00.

Eagle Bancorp Stock Up 2.5%

The business has a 50-day moving average price of $26.84 and a two-hundred day moving average price of $25.21. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market cap of $888.31 million, a PE ratio of -7.68 and a beta of 0.97.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $76.40 million during the quarter, compared to analyst estimates of $77.37 million. On average, equities research analysts expect 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 paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, May 4th. Eagle Bancorp’s dividend payout ratio (DPR) is presently -1.06%.

Hedge Funds Weigh In On Eagle Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in EGBN. North Reef Capital Management LP grew its holdings in 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 worth $53,238,000 after acquiring an additional 2,232,918 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Eagle Bancorp by 851.2% in the 3rd 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. Quantbot Technologies LP raised its holdings in shares of Eagle Bancorp by 43.1% in the 3rd quarter. Quantbot Technologies LP now owns 70,393 shares of the financial services provider’s stock valued at $1,423,000 after purchasing an additional 21,194 shares in the last quarter. Sippican Capital Advisors lifted its position in shares of Eagle Bancorp by 161.3% during the 4th 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. Finally, Inceptionr LLC purchased a new stake in shares of Eagle Bancorp during the 3rd quarter worth $554,000. 78.03% of the stock is owned by institutional investors and hedge funds.

About Eagle Bancorp

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.