Eagle Bancorp, Inc. (NASDAQ:EGBN – Get Rating) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 939,000 shares, an increase of 19.3% from the November 30th total of 787,400 shares. Based on an average daily trading volume, of 158,600 shares, the days-to-cover ratio is presently 5.9 days. Approximately 3.0% of the shares of the stock are short sold.
Analyst Upgrades and Downgrades
EGBN has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $50.00 target price on shares of Eagle Bancorp in a research note on Monday, December 5th. StockNews.com downgraded shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday.
Eagle Bancorp Stock Down 1.6 %
NASDAQ:EGBN traded down $0.71 during trading hours on Friday, reaching $44.07. The company’s stock had a trading volume of 164,450 shares, compared to its average volume of 201,237. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 9.46 and a beta of 0.89. Eagle Bancorp has a one year low of $41.97 and a one year high of $63.84. The business’s 50-day moving average is $45.16 and its 200-day moving average is $46.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79.
Eagle Bancorp (NASDAQ:EGBN – Get Rating) last released its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.07). Eagle Bancorp had a net margin of 36.50% and a return on equity of 12.80%. The firm had revenue of $89.21 million for the quarter, compared to the consensus estimate of $89.60 million. Equities research analysts predict that Eagle Bancorp will post 4.79 EPS for the current year.
Eagle Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Thursday, January 5th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Wednesday, January 4th. Eagle Bancorp’s payout ratio is presently 38.63%.
Institutional Investors Weigh In On Eagle Bancorp
Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its position in Eagle Bancorp by 923.1% in the second quarter. Cubist Systematic Strategies LLC now owns 147,524 shares of the financial services provider’s stock worth $6,994,000 after purchasing an additional 133,105 shares in the last quarter. Inspire Investing LLC raised its position in Eagle Bancorp by 7.2% in the second quarter. Inspire Investing LLC now owns 4,442 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 299 shares in the last quarter. Pinebridge Investments L.P. raised its position in Eagle Bancorp by 477.0% in the second quarter. Pinebridge Investments L.P. now owns 577 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 477 shares in the last quarter. Maltese Capital Management LLC acquired a new position in Eagle Bancorp in the second quarter worth about $2,370,000. Finally, Glassman Wealth Services raised its position in Eagle Bancorp by 25.2% in the second quarter. Glassman Wealth Services now owns 9,631 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 1,936 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.
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.
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