Eagle Bancorp, Inc. (NASDAQ:EGBN) Short Interest Update

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 1,540,000 shares, a decline of 9.4% from the August 31st total of 1,700,000 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average trading volume of 301,500 shares, the days-to-cover ratio is presently 5.1 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EGBN shares. Keefe, Bruyette & Woods increased their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. StockNews.com cut shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, June 9th.

Institutional Trading of Eagle Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in EGBN. Epoch Investment Partners Inc. bought a new position in shares of Eagle Bancorp in the fourth quarter valued at $7,801,000. AQR Capital Management LLC boosted its position in shares of Eagle Bancorp by 53.2% in the 2nd quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock valued at $10,191,000 after purchasing an additional 187,249 shares during the period. Dimensional Fund Advisors LP increased its stake in Eagle Bancorp by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock worth $26,637,000 after purchasing an additional 169,621 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Eagle Bancorp during the 2nd quarter worth about $2,989,000. Finally, Vanguard Group Inc. lifted its stake in Eagle Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock valued at $101,351,000 after buying an additional 126,085 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Stock Performance

EGBN traded down $0.17 during trading on Tuesday, reaching $22.41. 856,321 shares of the company were exchanged, compared to its average volume of 312,576. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.42. The stock has a market cap of $676.56 million, a P/E ratio of 8.93 and a beta of 1.09. Eagle Bancorp has a 52 week low of $15.99 and a 52 week high of $31.97. The firm has a 50 day moving average of $21.18 and a 200 day moving average of $20.36.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. The company had revenue of $175.06 million for the quarter, compared to analysts’ expectations of $80.90 million. During the same period last year, the firm earned $0.94 EPS. On average, sell-side analysts forecast that Eagle Bancorp will post 1.46 EPS for the current fiscal year.

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.