Eagle Bancorp, Inc. (NASDAQ:EGBN) sees sharp rise in short-term interest

Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) recorded a significant increase in short-term interest in May. As of May 15, there was short interest totaling 561,900 shares, an increase of 25.7% from the April 30 total of 446,900 shares. Based on an average daily trading volume of 165,100 shares, the short interest ratio is currently 3.4 days. Currently, 1.8% of the stock’s shares are sold short.

A number of hedge funds have recently changed their positions in the business. Jane Street Group LLC increased its stake in Eagle Bancorp by 190.6% in the first quarter. Jane Street Group LLC now owns 11,685 shares of the financial services provider valued at $666,000 after acquiring an additional 7,664 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Eagle Bancorp by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 62,505 shares of the financial services provider valued at $3,564,000 after acquiring 11,728 additional shares in the last quarter. Captrust Financial Advisors increased its stake in Eagle Bancorp to 74.6% in the first quarter. Captrust Financial Advisors now owns 2,353 shares of the financial services provider valued at $134,000 after acquiring an additional 1,005 shares in the last quarter. State Street Corp increased its stake in Eagle Bancorp by 9.7% in the first quarter. State Street Corp now owns 1,368,799 shares of the financial services provider valued at $78,035,000 after acquiring an additional 120,501 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Eagle Bancorp to 95.6% in the first quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider valued at $17,376,000 after acquiring an additional 148,941 shares in the last quarter. 73.83% of the shares are currently held by hedge funds and other institutional investors.

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Several research companies have recently weighed in on EGBN. StockNews.com began covering Eagle Bancorp shares in a report on Thursday, March 31. They set a “hold” rating for the company. Zacks Investment Research moved shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a price target of $66.00 for the company in a Tuesday, March 22 report.

Eagle Bancorp shares opened at $49.56 on Wednesday. The company has a debt ratio of 0.06, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $1.59 billion, a P/E ratio of 8.88 and a beta of 0.98. The company has a 50-day simple moving average of $52.69 and a 200-day simple moving average of $56.84. Eagle Bancorp has a fifty-two week low of $47.62 and a fifty-two week high of $63.84.

Eagle Bancorp (NASDAQ:EGBN – Get a rating) last released its quarterly results on Wednesday, April 20. The financial services provider reported earnings per share of $1.42 for the quarter, beating analyst consensus estimates of $1.06 by $0.36. The company posted revenue of $87.91 million in the quarter, versus analyst estimates of $86.40 million. Eagle Bancorp had a net margin of 45.21% and a return on equity of 13.63%. In the same quarter last year, the company posted earnings per share of $1.36. On average, sell-side analysts expect Eagle Bancorp to post 4.98 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29. Investors of record on Monday, April 11 received a dividend of $0.40. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, April 8. Eagle Bancorp’s dividend payout ratio is currently 28.67%.

Eagle Bancorp Company Profile (Get a rating)

Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various consumer and commercial loan products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.

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