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

Key Points

• Eagle Bancorp shares crossed above their 200-day moving average, reaching $28.57 before closing at $27.96. The stock’s 200-day average was $26.90, while its market capitalization stood at approximately $852 million.
• Analyst sentiment remained mixed, with ratings ranging from Strong Buy to Sell. The consensus rating was Hold, with an average price target of $29.00.
• The company reported quarterly EPS of $0.23, below the $0.34 analyst consensus, while revenue of $73.11 million also missed expectations. Eagle Bancorp paid a quarterly dividend of $0.01 per share, yielding approximately 0.1%.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.90 and traded as high as $28.57. Eagle Bancorp shares last traded at $27.96, with a volume of 248,595 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EGBN shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Piper Sandler raised their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Finally, Zacks Research raised shares of Eagle Bancorp from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $29.00.

Eagle Bancorp Stock Down 1.3%

The firm has a 50-day simple moving average of $27.86 and a 200 day simple moving average of $26.90. The stock has a market capitalization of $852.22 million, a P/E ratio of -22.19 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.11). Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%.The firm had revenue of $73.11 million for the quarter, compared to the consensus estimate of $74.41 million. On average, equities research analysts forecast that Eagle Bancorp, Inc. will post 1.52 EPS for the current year.

Eagle Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Thursday, August 6th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.04 annualized dividend and a yield of 0.1%. Eagle Bancorp's dividend payout ratio (DPR) is currently -3.17%.

Hedge Funds Weigh In On Eagle Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGBN. Stone Point Capital LLC acquired a new position in shares of Eagle Bancorp during the second quarter worth $21,660,548,000. Wellington Management Group LLP grew its stake in shares of Eagle Bancorp by 5.9% in the second quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider's stock worth $35,014,000 after purchasing an additional 68,314 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Eagle Bancorp by 15.2% in the first quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider's stock valued at $4,673,000 after purchasing an additional 24,842 shares during the period. Bank of New York Mellon Corp acquired a new stake in Eagle Bancorp in the second quarter valued at $4,678,000. Finally, Principal Financial Group Inc. increased its holdings in Eagle Bancorp by 2.1% in the first quarter. Principal Financial Group Inc. now owns 134,598 shares of the financial services provider's stock valued at $3,347,000 after purchasing an additional 2,776 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a community-focused commercial bank headquartered in Bethesda, Maryland. Founded in 1998, EagleBank serves businesses, professionals, nonprofit organizations and individuals primarily throughout the Washington, DC, metropolitan area, including the District of Columbia, suburban Maryland and Northern Virginia.

The bank provides a range of commercial and consumer banking products, including business and personal checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, construction loans, multifamily lending and residential mortgage products.

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