Eagle Bancorp (NASDAQ:EGBN) Stock Price Passes Above Two Hundred 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 $19.14 and traded as high as $21.21. Eagle Bancorp shares last traded at $21.1550, with a volume of 164,822 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EGBN. Piper Sandler reduced their price objective on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.25.

Eagle Bancorp Stock Up 0.7%

The company has a market capitalization of $642.48 million, a PE ratio of -5.34 and a beta of 1.06. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $18.82 and a two-hundred day moving average of $19.14.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%.The company had revenue of $88.48 million for the quarter. Equities research analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Eagle Bancorp’s dividend payout ratio is presently -1.01%.

Insider Activity

In related news, CFO Eric R. Newell acquired 3,050 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $16.55 per share, for a total transaction of $50,477.50. Following the acquisition, the chief financial officer owned 33,615 shares in the company, valued at $556,328.25. The trade was a 9.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis P. Jr. Mathews acquired 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $17.20 per share, with a total value of $25,800.00. Following the transaction, the director directly owned 10,157 shares in the company, valued at $174,700.40. This trade represents a 17.33% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 6,050 shares of company stock valued at $101,538. 3.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in shares of Eagle Bancorp by 102.2% during 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 period. Financial Consulate Inc. purchased a new stake in shares of Eagle Bancorp in the 3rd quarter valued at $34,000. Hantz Financial Services Inc. lifted its stake in Eagle Bancorp by 298.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 2,378 shares in the last quarter. MAI Capital Management lifted its stake in Eagle Bancorp by 24.2% during the 2nd quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 671 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Eagle Bancorp during the 2nd quarter valued at about $70,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.

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.