Eagle Bancorp (NASDAQ:EGBN) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Eagle Bancorp shares rose above their 200-day moving average, reaching $29.12 before closing at $28.80, compared with the 200-day average of $26.63.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell; the consensus is Hold with an average price target of $29.00.
• The company missed quarterly earnings expectations, reporting $0.23 in EPS versus $0.34 expected, while announcing a $0.01 quarterly dividend yielding approximately 0.1%.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) 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 trading hands.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research downgraded shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 29th. Piper Sandler lifted their price objective on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Eagle Bancorp in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $29.00.

Eagle Bancorp Trading Up 0.1%

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

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) 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 company had revenue of $73.11 million for the quarter, compared to analysts' expectations of $74.41 million. Equities analysts expect that Eagle Bancorp, Inc. will post 1.52 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 6th. Eagle Bancorp's payout ratio is currently -3.17%.

Institutional Trading of Eagle Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of 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 purchasing an additional 782 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Eagle Bancorp in the 1st quarter worth about $37,000. Versant Capital Management Inc grew its position in Eagle Bancorp by 16.2% in the 2nd quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider's stock worth $101,000 after purchasing an additional 493 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Eagle Bancorp by 113.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider's stock valued at $80,000 after buying an additional 2,172 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Eagle Bancorp in the 2nd quarter valued at about $99,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source