Eagle Bancorp (NASDAQ:EGBN) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Eagle Bancorp, Inc. (NASDAQ:EGBN) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.01 and traded as high as $27.13. Eagle Bancorp shares last traded at $26.66, with a volume of 224,472 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Raymond James Financial assumed coverage on shares of Eagle Bancorp in a report on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 target price for the company. Zacks Research cut shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Piper Sandler lifted their price objective on shares of Eagle Bancorp from $27.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Eagle Bancorp presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Eagle Bancorp Stock Down 2.3%

The business’s 50 day simple moving average is $26.02 and its 200-day simple moving average is $24.01. The company has a market cap of $813.13 million, a price-to-earnings ratio of -7.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.86.

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 analysts’ consensus estimates of $0.28 by $0.20. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.03%. The company had revenue of $76.40 million during the quarter, compared to analyst estimates of $77.37 million. Sell-side analysts expect that Eagle Bancorp, Inc. will post 1.79 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, May 4th. Eagle Bancorp’s payout ratio is presently -1.06%.

Institutional Investors Weigh In On Eagle Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of Eagle Bancorp by 13.3% in the 1st quarter. Royal Bank of Canada now owns 19,279 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 2,263 shares during the last quarter. Empowered Funds LLC lifted its position in Eagle Bancorp by 15.2% during the 1st quarter. Empowered Funds LLC now owns 113,806 shares of the financial services provider’s stock worth $2,830,000 after acquiring an additional 15,006 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Eagle Bancorp by 15.2% during the 1st quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock worth $4,673,000 after purchasing an additional 24,842 shares during the period. Caxton Associates LLP increased its holdings in shares of Eagle Bancorp by 8.5% during the 1st quarter. Caxton Associates LLP now owns 62,368 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 4,892 shares during the period. Finally, Inceptionr LLC increased its holdings in shares of Eagle Bancorp by 26.5% during the 1st quarter. Inceptionr LLC now owns 18,768 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 3,928 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.