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

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,190,000 shares, a decline of 8.5% from the September 30th total of 1,300,000 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily volume of 330,700 shares, the days-to-cover ratio is currently 3.6 days.

Eagle Bancorp Stock Performance

Shares of EGBN traded down $0.42 during midday trading on Thursday, hitting $26.21. 178,268 shares of the stock traded hands, compared to its average volume of 321,249. Eagle Bancorp has a 1-year low of $15.99 and a 1-year high of $31.97. The firm has a market capitalization of $791.28 million, a PE ratio of 10.44 and a beta of 1.09. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50 day moving average price is $22.82 and its two-hundred day moving average price is $20.66.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.27. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The company had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities research analysts predict that Eagle Bancorp will post 1.56 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 21st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is presently 26.29%.

Institutional Investors Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new stake in Eagle Bancorp in the second quarter worth about $35,000. GAMMA Investing LLC raised its holdings in Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,234 shares during the period. Nisa Investment Advisors LLC raised its holdings in Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after buying an additional 846 shares during the period. Carmichael Hill & Associates Inc. raised its holdings in Eagle Bancorp by 36.1% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock worth $51,000 after buying an additional 721 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Eagle Bancorp during the 2nd quarter worth about $89,000. 78.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on EGBN shares. Piper Sandler started coverage on shares of Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective for the company. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

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.