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

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s share price crossed 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 trading hands.

Analyst Upgrades and Downgrades

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

Eagle Bancorp Stock Performance

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

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

Eagle Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, February 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Eagle Bancorp’s payout ratio is presently -0.95%.

Insider Activity

In other news, Director Louis P. Jr. Mathews acquired 1,500 shares of Eagle Bancorp stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following the purchase, the director owned 10,157 shares in the company, valued at $174,700.40. This trade represents a 17.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jupiter Asset Management Ltd. raised its position in Eagle Bancorp by 112.5% during the second quarter. Jupiter Asset Management Ltd. now owns 357,404 shares of the financial services provider’s stock valued at $6,962,000 after purchasing an additional 189,233 shares during the period. Allianz Asset Management GmbH bought a new position in shares of Eagle Bancorp during the 2nd quarter valued at approximately $831,000. Walleye Capital LLC raised its holdings in Eagle Bancorp by 330.0% during the 2nd quarter. Walleye Capital LLC now owns 79,335 shares of the financial services provider’s stock valued at $1,545,000 after buying an additional 60,883 shares during the period. Y Intercept Hong Kong Ltd lifted its position in Eagle Bancorp by 998.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 158,227 shares of the financial services provider’s stock worth $3,082,000 after buying an additional 143,820 shares during the last quarter. Finally, SummerHaven Investment Management LLC purchased a new position in Eagle Bancorp during the third quarter worth $806,000. 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.