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

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,300,000 shares, an increase of 13.9% from the October 15th total of 2,020,000 shares. Approximately 7.9% of the shares of the company are sold short. Based on an average trading volume of 268,000 shares, the short-interest ratio is presently 8.6 days.

Insider Activity at Eagle Bancorp

In related news, EVP Ryan Riel sold 6,282 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $24.17, for a total value of $151,835.94. Following the completion of the sale, the executive vice president now directly owns 25,860 shares of the company’s stock, valued at $625,036.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Eagle Bancorp news, Director Theresa G. Laplaca sold 3,000 shares of Eagle Bancorp stock in a transaction on Friday, November 10th. The shares were sold at an average price of $21.34, for a total value of $64,020.00. Following the transaction, the director now directly owns 18,291 shares in the company, valued at $390,329.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ryan Riel sold 6,282 shares of Eagle Bancorp stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $24.17, for a total transaction of $151,835.94. Following the completion of the transaction, the executive vice president now owns 25,860 shares in the company, valued at $625,036.20. The disclosure for this sale can be found here. 2.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eagle Bancorp

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Eagle Bancorp by 1.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,864 shares of the financial services provider’s stock valued at $942,000 after purchasing an additional 230 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Eagle Bancorp by 2.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 12,420 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 277 shares during the last quarter. Mariner LLC increased its stake in Eagle Bancorp by 2.0% during the 4th quarter. Mariner LLC now owns 20,003 shares of the financial services provider’s stock valued at $882,000 after buying an additional 391 shares during the period. UBS Asset Management Americas Inc. increased its stake in Eagle Bancorp by 1.1% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 38,521 shares of the financial services provider’s stock valued at $1,727,000 after buying an additional 419 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in Eagle Bancorp by 0.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 83,198 shares of the financial services provider’s stock valued at $3,667,000 after buying an additional 492 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $23.92 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $715.93 million, a price-to-earnings ratio of 5.97 and a beta of 1.00. The company’s 50 day simple moving average is $21.14 and its 200 day simple moving average is $22.35. Eagle Bancorp has a 1 year low of $16.72 and a 1 year high of $49.04.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.17. The company had revenue of $77.07 million for the quarter, compared to the consensus estimate of $73.98 million. Eagle Bancorp had a net margin of 20.05% and a return on equity of 9.99%. On average, sell-side analysts predict that Eagle Bancorp will post 3.32 EPS for the current year.

Eagle Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.53%. The ex-dividend date was Thursday, October 19th. Eagle Bancorp’s payout ratio is currently 45.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Eagle Bancorp from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 31st. StockNews.com downgraded shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 6th.

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.