Eagle Bancorp (NASDAQ:EGBN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.14 and traded as high as $21.21. Eagle Bancorp shares last traded at $21.1550, with a volume of 164,822 shares traded.

Wall Street Analysts Forecast Growth

EGBN has been the topic of several recent analyst reports. Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, October 8th. Finally, Piper Sandler dropped their target price on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.25.

Eagle Bancorp Stock Up 0.1%

The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The company has a market cap of $643.24 million, a PE ratio of -5.35 and a beta of 1.06. The company’s fifty day moving average is $18.87 and its 200-day moving average is $19.17.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Monday, September 11th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter. The firm had revenue of $88.48 million for the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%. On average, analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, November 3rd. Eagle Bancorp’s payout ratio is -1.01%.

Insider Activity at Eagle Bancorp

In related news, CFO Eric R. Newell purchased 3,050 shares of Eagle Bancorp stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the transaction, the chief financial officer directly owned 33,615 shares in the company, valued at $556,328.25. This represents a 9.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Louis P. Jr. Mathews acquired 1,500 shares of the stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following the completion of the transaction, the director owned 10,157 shares in the company, valued at approximately $174,700.40. This represents a 17.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 6,050 shares of company stock worth $101,538 over the last quarter. Insiders own 3.39% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

Several large investors have recently added to or reduced their stakes in the company. Caxton Associates LLP raised its position in shares of Eagle Bancorp by 69.8% during the 3rd quarter. Caxton Associates LLP now owns 67,285 shares of the financial services provider’s stock valued at $1,361,000 after purchasing an additional 27,655 shares during the period. Verition Fund Management LLC increased its stake in Eagle Bancorp by 50.3% in the 3rd quarter. Verition Fund Management LLC now owns 81,057 shares of the financial services provider’s stock worth $1,639,000 after buying an additional 27,135 shares in the last quarter. North Reef Capital Management LP increased its stake in Eagle Bancorp by 558.2% in the 3rd quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock worth $53,238,000 after buying an additional 2,232,918 shares in the last quarter. Mariner LLC raised its holdings in Eagle Bancorp by 216.3% during the third quarter. Mariner LLC now owns 53,360 shares of the financial services provider’s stock valued at $1,079,000 after acquiring an additional 36,489 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Eagle Bancorp by 135.6% in the third quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock valued at $8,990,000 after acquiring an additional 255,932 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

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.