Eagle Bancorp, Inc. (NASDAQ:EGBN) Sees Large Decrease in Short Interest

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,620,000 shares, a drop of 6.4% from the December 31st total of 1,730,000 shares. Approximately 5.6% of the shares of the company are sold short. Based on an average daily volume of 285,800 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of EGBN. Angel Oak Capital Advisors LLC acquired a new stake in shares of Eagle Bancorp during the 4th quarter worth approximately $1,057,000. Principal Financial Group Inc. grew its position in Eagle Bancorp by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 146,416 shares of the financial services provider’s stock worth $3,811,000 after acquiring an additional 4,197 shares during the period. Rhumbline Advisers increased its stake in Eagle Bancorp by 4.0% during the fourth quarter. Rhumbline Advisers now owns 99,351 shares of the financial services provider’s stock worth $2,586,000 after acquiring an additional 3,810 shares during the last quarter. Savant Capital LLC purchased a new stake in Eagle Bancorp in the fourth quarter valued at $231,000. Finally, Empowered Funds LLC lifted its stake in shares of Eagle Bancorp by 95.0% in the 4th quarter. Empowered Funds LLC now owns 55,189 shares of the financial services provider’s stock valued at $1,437,000 after purchasing an additional 26,889 shares during the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Price Performance

Eagle Bancorp stock traded up $0.16 during midday trading on Friday, reaching $26.21. The company had a trading volume of 268,605 shares, compared to its average volume of 212,787. Eagle Bancorp has a 12-month low of $15.99 and a 12-month high of $30.94. The firm’s fifty day simple moving average is $26.79 and its 200-day simple moving average is $24.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market capitalization of $791.54 million, a P/E ratio of -16.69 and a beta of 1.10.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. As a group, equities analysts anticipate that Eagle Bancorp will post 2.44 EPS for the current year.

Eagle Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $0.165 per share. The ex-dividend date is Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 2.52%. Eagle Bancorp’s dividend payout ratio is presently -42.04%.

Analyst Upgrades and Downgrades

Several analysts recently commented on EGBN shares. Keefe, Bruyette & Woods dropped their price target on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Piper Sandler lowered their price target on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a research report on Friday, January 24th.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.