Eagle Bancorp, Inc. (NASDAQ:EGBN) Sees Significant Increase in Short Interest

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,750,000 shares, an increase of 6.7% from the October 31st total of 1,640,000 shares. Based on an average daily volume of 317,400 shares, the short-interest ratio is presently 5.5 days. Approximately 6.0% of the company’s shares are sold short.

Institutional Trading of Eagle Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of EGBN. Price T Rowe Associates Inc. MD lifted its stake in Eagle Bancorp by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider’s stock valued at $710,000 after acquiring an additional 1,152 shares during the period. CWM LLC grew its position in shares of Eagle Bancorp by 78.8% in the 2nd quarter. CWM LLC now owns 9,876 shares of the financial services provider’s stock worth $187,000 after buying an additional 4,351 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Eagle Bancorp by 15.8% in the second quarter. SG Americas Securities LLC now owns 21,885 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 2,990 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Eagle Bancorp by 12.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,995 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 1,609 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Eagle Bancorp by 122.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,917 shares of the financial services provider’s stock worth $131,000 after buying an additional 3,804 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Price Performance

Shares of Eagle Bancorp stock opened at $29.69 on Tuesday. The stock has a 50-day simple moving average of $25.99 and a 200-day simple moving average of $22.00. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $31.97. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.27. The business had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same quarter last year, the firm earned $0.91 earnings per share. On average, research analysts anticipate that Eagle Bancorp will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s dividend payout ratio is currently -47.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler started coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective for the company. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 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.