Eagle Bancorp (NASDAQ:EGBN) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

by · The Cerbat Gem

Eagle Bancorp, Inc. (NASDAQ:EGBNGet Free Report)’s stock price 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 Analysts Forecast Growth

EGBN has been the topic of several analyst reports. Piper Sandler increased their price target 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 restated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Finally, Zacks Research upgraded 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.00.

View Our Latest Stock Analysis on EGBN

Eagle Bancorp Trading Up 0.1%

The business’s 50 day moving average price is $27.88 and its two-hundred day moving average price is $26.91. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $855.27 million, a price-to-earnings ratio of -22.27 and a beta of 0.96.

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

Eagle Bancorp Announces Dividend

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

Institutional Investors Weigh In On Eagle Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in EGBN. Stone Point Capital LLC acquired a new stake in Eagle Bancorp during the 2nd quarter valued at approximately $21,660,548,000. Wellington Management Group LLP boosted its stake in shares of Eagle Bancorp by 5.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider’s stock valued at $35,014,000 after purchasing an additional 68,314 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Eagle Bancorp by 15.2% in the 1st 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 last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Eagle Bancorp during the second quarter worth $4,678,000. Finally, Principal Financial Group Inc. increased its position in shares of Eagle Bancorp by 2.1% during the first quarter. Principal Financial Group Inc. now owns 134,598 shares of the financial services provider’s stock worth $3,347,000 after buying an additional 2,776 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

About Eagle Bancorp

(Get Free Report)

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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