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

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a significant 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 daily trading volume, of 250,400 shares, the short-interest ratio is currently 6.2 days. Approximately 5.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Eagle Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,689,423 shares of the financial services provider’s stock valued at $70,006,000 after buying an additional 35,255 shares during the period. Dimensional Fund Advisors LP increased its position in Eagle Bancorp by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider’s stock worth $40,919,000 after purchasing an additional 63,702 shares during the period. Fourthstone LLC raised its holdings in Eagle Bancorp by 382.7% during the 4th quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider’s stock worth $33,231,000 after purchasing an additional 1,012,182 shares during the last quarter. North Reef Capital Management LP raised its holdings in Eagle Bancorp by 251.9% during the 4th quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider’s stock worth $25,186,000 after purchasing an additional 692,593 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Eagle Bancorp by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after purchasing an additional 25,578 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Price Performance

Shares of EGBN traded down $0.50 during mid-day trading on Tuesday, reaching $25.15. The company had a trading volume of 1,180,163 shares, compared to its average volume of 272,215. The company’s 50-day moving average is $26.04 and its 200-day moving average is $24.79. 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 $759.53 million, a P/E ratio of -16.02 and a beta of 1.09. Eagle Bancorp has a twelve month low of $15.99 and a twelve month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data 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 negative net margin of 6.65% and a positive return on equity of 4.68%. On average, equities analysts anticipate that Eagle Bancorp will post 2.31 EPS for the current year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, February 7th. This represents a $0.66 annualized dividend and a yield of 2.62%. Eagle Bancorp’s dividend payout ratio is -42.04%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EGBN shares. Piper Sandler decreased their target price 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. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on 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.

Eagle Bancorp Company Profile

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.