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

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

Eagle Bancorp Price Performance

EGBN opened at $25.15 on Wednesday. The firm has a market capitalization of $759.53 million, a P/E ratio of -16.02 and a beta of 1.09. The stock has a fifty day moving average of $26.04 and a 200-day moving average of $24.79. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. Eagle Bancorp has a 12-month low of $15.99 and a 12-month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts forecast that Eagle Bancorp will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. 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 research report on Friday, January 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. Finally, StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position in Eagle Bancorp by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock worth $247,000 after buying an additional 450 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Eagle Bancorp by 2.4% during the fourth quarter. LPL Financial LLC now owns 20,246 shares of the financial services provider’s stock worth $527,000 after acquiring an additional 467 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Eagle Bancorp by 3.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,801 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 488 shares during the last quarter. Quantinno Capital Management LP grew its stake in Eagle Bancorp by 5.7% in the fourth quarter. Quantinno Capital Management LP now owns 11,146 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 601 shares in the last quarter. Finally, Ieq Capital LLC grew its stake in Eagle Bancorp by 3.3% in the fourth quarter. Ieq Capital LLC now owns 20,724 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 667 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.