Eagle Bancorp (NASDAQ:EGBN) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Eagle Bancorp shares rose above their 200-day moving average, reaching $28.54 before closing at $27.96, compared with the 200-day average of $27.03.
• Analyst sentiment remains mixed but leans neutral: the stock has an average “Hold” rating and a consensus price target of $29.00, with ratings ranging from Strong Buy to Sell.
• The company’s latest quarterly results fell short of expectations, with EPS of $0.23 versus the $0.34 consensus and revenue of $73.11 million versus $74.41 million expected; Eagle Bancorp also reported negative net margin and return on equity.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $27.03 and traded as high as $28.54. Eagle Bancorp shares last traded at $27.96, with a volume of 433,383 shares changing hands.

Wall Street Analysts Forecast Growth

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

Eagle Bancorp Stock Performance

The company's fifty day simple moving average is $27.98 and its 200 day simple moving average is $27.03. 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 current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.11). The business had revenue of $73.11 million during the quarter, compared to analysts' expectations of $74.41 million. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%. As a group, sell-side analysts forecast that Eagle Bancorp, Inc. will post 1.52 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Eagle Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Eagle Bancorp in the 2nd quarter worth $62,000. Corient Private Wealth LP lifted its holdings in shares of Eagle Bancorp by 61.2% during the 2nd quarter. Corient Private Wealth LP now owns 28,104 shares of the financial services provider's stock worth $798,000 after acquiring an additional 10,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eagle Bancorp by 15.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,033 shares of the financial services provider's stock worth $1,392,000 after acquiring an additional 6,487 shares in the last quarter. Hsbc Holdings PLC grew its position in Eagle Bancorp by 247.7% in the second quarter. Hsbc Holdings PLC now owns 42,520 shares of the financial services provider's stock worth $1,204,000 after acquiring an additional 30,292 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in 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 valued at $35,014,000 after acquiring an additional 68,314 shares during the last quarter. 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 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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