Short Interest in Eagle Bancorp, Inc. (NASDAQ:EGBN) Declines By 8.2%

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,560,000 shares, a drop of 8.2% from the January 15th total of 1,700,000 shares. Based on an average trading volume of 250,400 shares, the short-interest ratio is presently 6.2 days. Approximately 5.3% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods decreased their price target on Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Monday, January 27th. Piper Sandler decreased their price target on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a report on Friday, January 24th. Finally, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

Hedge Funds Weigh In On Eagle Bancorp

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 775 shares in the last quarter. R Squared Ltd bought a new position in Eagle Bancorp in the 4th quarter valued at about $51,000. Point72 DIFC Ltd bought a new position in Eagle Bancorp in the 3rd quarter valued at about $48,000. Millstone Evans Group LLC bought a new position in Eagle Bancorp in the 4th quarter valued at about $59,000. Finally, Nisa Investment Advisors LLC lifted its position in Eagle Bancorp by 49.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 846 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Up 0.9 %

Shares of EGBN traded up $0.22 during trading hours on Monday, hitting $25.65. The stock had a trading volume of 137,465 shares, compared to its average volume of 224,924. 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 firm has a 50 day simple moving average of $26.04 and a 200-day simple moving average of $24.79. The firm has a market capitalization of $774.63 million, a P/E ratio of -16.34 and a beta of 1.09. Eagle Bancorp has a 1-year low of $15.99 and a 1-year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. Sell-side analysts predict that Eagle Bancorp will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $0.165 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.66 annualized dividend and a yield of 2.57%. Eagle Bancorp’s payout ratio is -42.04%.

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.