Eagle Bancorp, Inc. (NASDAQ:EGBN) Short Interest Up 17.9% in May

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 2,640,000 shares, an increase of 17.9% from the April 30th total of 2,240,000 shares. Approximately 9.0% of the shares of the company are sold short. Based on an average daily trading volume, of 378,100 shares, the short-interest ratio is currently 7.0 days.

Eagle Bancorp Stock Performance

Shares of EGBN stock traded up $0.53 during trading hours on Friday, reaching $17.33. 173,026 shares of the company traded hands, compared to its average volume of 327,265. Eagle Bancorp has a 12-month low of $15.99 and a 12-month high of $30.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market cap of $526.43 million, a P/E ratio of -11.04 and a beta of 1.02. The firm has a 50-day moving average price of $18.73 and a 200 day moving average price of $22.98.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. The business had revenue of $73.86 million during the quarter, compared to analysts' expectations of $71.93 million. As a group, sell-side analysts predict that Eagle Bancorp will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were issued a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a yield of 3.81%. Eagle Bancorp's dividend payout ratio is presently -44.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EGBN shares. Piper Sandler lowered their price objective on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group set a $20.00 price objective on Eagle Bancorp and gave the company a "hold" rating in a research report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its holdings in Eagle Bancorp by 2.4% in the 4th quarter. LPL Financial LLC now owns 20,246 shares of the financial services provider's stock worth $527,000 after purchasing an additional 467 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Eagle Bancorp by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,801 shares of the financial services provider's stock worth $437,000 after purchasing an additional 488 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Eagle Bancorp by 5.7% in the 4th quarter. Quantinno Capital Management LP now owns 11,146 shares of the financial services provider's stock worth $290,000 after purchasing an additional 601 shares in the last quarter. Ieq Capital LLC lifted its holdings in Eagle Bancorp by 3.3% in the 4th quarter. Ieq Capital LLC now owns 20,724 shares of the financial services provider's stock worth $539,000 after purchasing an additional 667 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock worth $26,000 after purchasing an additional 775 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.