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

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.21 and traded as high as $25.61. Eagle Bancorp shares last traded at $25.06, with a volume of 242,329 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EGBN shares. Zacks Research cut shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Raymond James Financial started coverage on shares of Eagle Bancorp in a research report on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 price target for the company. Piper Sandler upped their price target 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. Finally, UBS Group set a $25.00 price target on shares of Eagle Bancorp in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.00.

Eagle Bancorp Price Performance

The stock’s 50-day moving average is $25.65 and its 200 day moving average is $23.22. 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 $746.34 million, a PE ratio of -6.46 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.48 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 analysts’ expectations of $77.37 million. On average, equities analysts anticipate that Eagle Bancorp, Inc. will post 1.79 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently announced 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 0.2%. Eagle Bancorp’s dividend payout ratio is presently -1.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EGBN. Versant Capital Management Inc raised its holdings in shares of Eagle Bancorp by 102.2% in the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock worth $30,000 after buying an additional 753 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of 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 worth $30,000 after buying an additional 782 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Eagle Bancorp in the first quarter worth $37,000. Hantz Financial Services Inc. raised its holdings in shares of Eagle Bancorp by 298.0% in the third 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 last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Eagle Bancorp by 113.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after buying an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors 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.