Eagle Bancorp (NASDAQ:EGBN) Shares Cross Above 200-Day Moving Average – What’s Next?

Eagle Bancorp, Inc. (NASDAQ:EGBN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.86 and traded as high as $28.53. Eagle Bancorp shares last traded at $27.24, with a volume of 548,382 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EGBN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Friday, June 5th. Wall Street Zen upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research lowered shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. 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 on the stock. Finally, Piper Sandler raised their target price on shares of Eagle Bancorp from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.67.

Eagle Bancorp Stock 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 company has a market cap of $830.82 million, a PE ratio of -7.19 and a beta of 0.97. The business has a fifty day simple moving average of $26.63 and a two-hundred day simple moving average of $24.86.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly 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. The business had revenue of $76.40 million for the quarter, compared to the consensus estimate of $77.37 million. Eagle Bancorp had a negative return on equity of 10.03% and a negative net margin of 18.65%. Research analysts anticipate that Eagle Bancorp, Inc. will post 1.79 earnings per share for the current year.

Eagle Bancorp Announces Dividend

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

Institutional Trading of Eagle Bancorp

Several hedge funds have recently modified their holdings of the company. North Reef Capital Management LP grew its position in shares of Eagle Bancorp by 558.2% in 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 buying an additional 2,232,918 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Eagle Bancorp during the 3rd quarter worth approximately $12,314,000. Millennium Management LLC lifted its position in Eagle Bancorp by 135.6% during the third quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock valued at $8,990,000 after acquiring an additional 255,932 shares during the last quarter. AQR Capital Management LLC boosted its stake in Eagle Bancorp by 75.4% in the second quarter. AQR Capital Management LLC now owns 385,677 shares of the financial services provider’s stock valued at $7,513,000 after acquiring an additional 165,747 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Eagle Bancorp in the fourth quarter valued at approximately $3,399,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.