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

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s stock price passed 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 changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EGBN shares. Piper Sandler lifted their price objective on Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Raymond James Financial started coverage on Eagle Bancorp in a research note on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a report on Friday, June 5th. Finally, Zacks Research downgraded Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.00.

Eagle Bancorp Stock Performance

The stock’s 50 day moving average price is $26.97 and its two-hundred day moving average price is $25.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $820.14 million, a price-to-earnings ratio of -7.09 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $77.37 million. On average, analysts forecast that Eagle Bancorp, Inc. will post 1.79 EPS for the current year.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $0.01 dividend. 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 -1.06%.

Institutional Investors Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Eagle Bancorp by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 219,930 shares of the financial services provider’s stock worth $4,619,000 after acquiring an additional 17,943 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Eagle Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 780 shares in the last quarter. Millennium Management LLC raised its holdings in Eagle Bancorp by 164.6% during the first quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider’s stock worth $6,602,000 after purchasing an additional 195,567 shares during the last quarter. Empowered Funds LLC raised its holdings in Eagle Bancorp by 65.0% during the first quarter. Empowered Funds LLC now owns 91,087 shares of the financial services provider’s stock worth $1,913,000 after purchasing an additional 35,898 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Eagle Bancorp by 15.1% during the second quarter. Invesco Ltd. now owns 442,614 shares of the financial services provider’s stock worth $8,622,000 after purchasing an additional 58,212 shares during the last quarter. 78.03% of the stock is currently 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.