Eagle Bancorp (NASDAQ:EGBN) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Eagle Bancorp shares rose above their 200-day moving average on Monday, trading as high as $27.17 and last changing hands at $26.89. The move came with volume of 341,955 shares.
• Analyst sentiment is mixed but cautious, with a consensus rating of “Hold” and an average price target of $29.00. Recent updates included Piper Sandler raising its target to $30, while Weiss Ratings reiterated a sell rating.
• The company recently beat earnings expectations, reporting $0.48 EPS versus the $0.28 consensus, though revenue missed forecasts slightly. Eagle Bancorp also declared a quarterly dividend of $0.01 per share, implying a very low annual yield of 0.1%.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.71 and traded as high as $27.17. Eagle Bancorp shares last traded at $26.89, with a volume of 341,955 shares trading hands.

Analysts Set New Price Targets

EGBN has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eagle Bancorp in a research report on Friday, June 5th. Raymond James Financial began coverage on shares of Eagle Bancorp in a research report on Tuesday, April 14th. They issued a "strong-buy" rating and a $32.00 price target for the company. Finally, Zacks Research cut shares of Eagle Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.00.

Eagle Bancorp Price Performance

The company has a 50-day moving average of $26.97 and a 200-day moving average of $25.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $820.14 million, a price-to-earnings ratio of -7.09 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $77.37 million. As a group, equities research analysts predict that Eagle Bancorp, Inc. will post 1.79 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, May 4th. Eagle Bancorp's dividend payout ratio is -1.06%.

Hedge Funds Weigh In On Eagle Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. North Reef Capital Management LP increased its stake in Eagle Bancorp by 11.7% in the 4th quarter. North Reef Capital Management LP now owns 2,940,000 shares of the financial services provider's stock valued at $62,975,000 after buying an additional 307,082 shares during the period. Wellington Management Group LLP lifted its stake in shares of Eagle Bancorp by 77.7% in the 4th quarter. Wellington Management Group LLP now owns 1,082,382 shares of the financial services provider's stock worth $23,185,000 after acquiring an additional 473,361 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Eagle Bancorp by 13.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,010,336 shares of the financial services provider's stock worth $21,642,000 after acquiring an additional 117,156 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Eagle Bancorp by 5.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 644,957 shares of the financial services provider's stock valued at $13,041,000 after acquiring an additional 32,787 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Eagle Bancorp by 20.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 612,655 shares of the financial services provider's stock valued at $13,123,000 after acquiring an additional 105,702 shares in the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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