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

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $20.30 and traded as high as $27.10. Eagle Bancorp shares last traded at $26.10, with a volume of 267,073 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on EGBN shares. UBS Group set a $25.00 price objective on Eagle Bancorp in a research report on Tuesday, January 27th. Piper Sandler boosted their price target on Eagle Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Zacks Research upgraded Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Eagle Bancorp has a consensus rating of “Hold” and an average price target of $23.60.

Eagle Bancorp Stock Down 2.5%

The stock has a market cap of $792.66 million, a price-to-earnings ratio of -6.20 and a beta of 1.04. The stock has a 50 day simple moving average of $23.28 and a 200 day simple moving average of $20.30. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.37. Eagle Bancorp had a negative return on equity of 10.91% and a negative net margin of 20.19%.The company had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $67.81 million. As a group, analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is currently -0.95%.

Insiders Place Their Bets

In other Eagle Bancorp news, Director Louis P. Jr. Mathews bought 1,500 shares of the stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following the purchase, the director directly owned 10,157 shares of the company’s stock, valued at approximately $174,700.40. This trade represents a 17.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.39% of the company’s stock.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in shares of Eagle Bancorp by 79.8% in the fourth quarter. Jane Street Group LLC now owns 76,739 shares of the financial services provider’s stock worth $1,644,000 after buying an additional 34,060 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Eagle Bancorp in the 4th quarter valued at about $394,000. WINTON GROUP Ltd boosted its position in shares of Eagle Bancorp by 48.2% during the 4th quarter. WINTON GROUP Ltd now owns 49,831 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 16,206 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Eagle Bancorp by 0.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 292,824 shares of the financial services provider’s stock worth $6,272,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in shares of Eagle Bancorp in the fourth quarter worth approximately $495,000. 78.03% of the stock is currently owned by 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.