Eagle Bancorp (NASDAQ:EGBN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.92 and traded as high as $27.16. Eagle Bancorp shares last traded at $26.51, with a volume of 255,889 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on EGBN. Zacks Research raised shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Wall Street Zen upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. UBS Group set a $25.00 price objective on Eagle Bancorp in a research note on Tuesday, January 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. Finally, Raymond James Financial started coverage on Eagle Bancorp in a research note on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Eagle Bancorp Trading Up 1.1%

The stock has a market cap of $804.84 million, a P/E ratio of -6.99 and a beta of 0.96. The firm’s fifty day moving average price is $25.69 and its two-hundred day moving average price is $22.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.86 and a quick ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.20. Eagle Bancorp had a negative return on equity of 10.03% and a negative net margin of 18.65%.The company had revenue of $76.40 million during the quarter, compared to analyst estimates of $77.37 million. As a group, equities research analysts forecast that Eagle Bancorp, Inc. will post 1.78 EPS for the current year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -1.06%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in Eagle Bancorp by 8.9% in the first quarter. AQR Capital Management LLC now owns 219,930 shares of the financial services provider’s stock valued at $4,619,000 after purchasing an additional 17,943 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $369,000 after buying an additional 780 shares in the last quarter. Millennium Management LLC grew its stake in Eagle Bancorp by 164.6% in the 1st quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider’s stock worth $6,602,000 after buying an additional 195,567 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Eagle Bancorp by 65.0% in the 1st quarter. Empowered Funds LLC now owns 91,087 shares of the financial services provider’s stock worth $1,913,000 after buying an additional 35,898 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Eagle Bancorp by 15.1% during the 2nd quarter. Invesco Ltd. now owns 442,614 shares of the financial services provider’s stock valued at $8,622,000 after purchasing an additional 58,212 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.