Eagle Bancorp, Inc. (NASDAQ:EGBN – Get Free Report) shares crossed 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.
Analyst Upgrades and Downgrades
EGBN has been the subject of a number of recent analyst reports. Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Finally, Piper Sandler boosted their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.
Read Our Latest Analysis on EGBN
Eagle Bancorp Trading Up 1.5%
Eagle Bancorp (NASDAQ:EGBN – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) 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 company had revenue of $73.11 million for the quarter, compared to the consensus estimate of $74.41 million. As a group, equities analysts expect that Eagle Bancorp, Inc. will post 1.52 EPS for the current year.
Eagle Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, August 6th were issued a $0.01 dividend. 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 is presently -3.17%.
Hedge Funds Weigh In On Eagle Bancorp
A number of institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in Eagle Bancorp during the second quarter worth $39,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Eagle Bancorp during the first quarter valued at about $37,000. Integrated Wealth Concepts LLC bought a new stake in shares of Eagle Bancorp during the second quarter worth about $62,000. Versant Capital Management Inc raised its holdings in shares of Eagle Bancorp by 16.2% in the 2nd quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 493 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Eagle Bancorp by 10,807.4% in the 1st quarter. Fifth Third Bancorp now owns 5,890 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 5,836 shares during the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.
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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