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

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.63 and traded as high as $29.12. Eagle Bancorp shares last traded at $28.80, with a volume of 177,326 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EGBN shares. Piper Sandler boosted their price objective on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Zacks Research lowered shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.00.

Eagle Bancorp Stock Up 0.1%

The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $27.79 and a 200-day moving average price of $26.63. The firm has a market cap of $877.82 million, a P/E ratio of -22.86 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.11). Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. The firm had revenue of $73.11 million during the quarter, compared to the consensus estimate of $74.41 million. On average, equities analysts forecast that Eagle Bancorp, Inc. will post 1.52 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Thursday, August 6th will be issued a $0.01 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Eagle Bancorp’s payout ratio is currently -3.17%.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in Eagle Bancorp by 128.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock valued at $30,000 after buying an additional 782 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Eagle Bancorp in the first quarter worth approximately $37,000. Tower Research Capital LLC TRC lifted its holdings in Eagle Bancorp by 113.1% during 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 period. Raymond James Financial Inc. purchased a new stake in Eagle Bancorp during the second quarter worth $99,000. Finally, Versant Capital Management Inc lifted its holdings in Eagle Bancorp by 16.2% during the second quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock worth $101,000 after buying an additional 493 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

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.