Eagle Bancorp (NASDAQ:EGBN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.77 and traded as high as $25.06. Eagle Bancorp shares last traded at $24.65, with a volume of 265,006 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group set a $25.00 price objective on shares of Eagle Bancorp in a research note on Tuesday, January 27th. Zacks Research cut shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Piper Sandler raised their target price on shares of Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Eagle Bancorp has a consensus rating of “Hold” and an average target price of $23.60.

Eagle Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87. The firm’s 50 day moving average is $25.49 and its 200-day moving average is $21.77. The stock has a market capitalization of $748.37 million, a price-to-earnings ratio of -5.86 and a beta of 1.03.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.37. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.93%. The company had revenue of $80.50 million for the quarter, compared to analyst estimates of $67.81 million. Analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $0.01 per share. The ex-dividend date was Monday, February 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is -0.95%.

Hedge Funds Weigh In On Eagle Bancorp

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in Eagle Bancorp by 102.2% during the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 753 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Eagle Bancorp by 128.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 782 shares during the period. Financial Consulate Inc. purchased a new stake in shares of Eagle Bancorp in the third quarter valued at approximately $34,000. Hantz Financial Services Inc. raised its stake in shares of Eagle Bancorp by 298.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock worth $64,000 after buying an additional 2,378 shares during the period. Finally, MAI Capital Management raised its stake in shares of Eagle Bancorp by 24.2% during the 2nd quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock worth $67,000 after buying an additional 671 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

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.