Eagle Bancorp, Inc. (EGBN) Sees Significant Drop in Short Interest

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 470,980 shares, a drop of 45.5% from the November 30th total of 864,253 shares. Based on an average daily trading volume, of 1,026,717 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.5% of the company’s shares are short sold.

Several analysts recently commented on the company. Zacks Investment Research raised Eagle Bancorp from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $66.00 price objective on shares of Eagle Bancorp in a research note on Friday, December 22nd. BidaskClub raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $66.25.

In related news, CEO Ronald D. Paul sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.47, for a total transaction of $332,350.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dudley C. Dworken sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $67.00, for a total value of $134,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,959 shares of company stock worth $2,682,251 in the last ninety days. 8.39% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGBN. Wasatch Advisors Inc. raised its stake in shares of Eagle Bancorp by 19.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock valued at $136,332,000 after purchasing an additional 350,204 shares during the period. Jennison Associates LLC raised its stake in shares of Eagle Bancorp by 23.7% in the 3rd quarter. Jennison Associates LLC now owns 1,291,987 shares of the financial services provider’s stock valued at $86,628,000 after purchasing an additional 247,254 shares during the period. Vanguard Group Inc. raised its stake in shares of Eagle Bancorp by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock valued at $159,766,000 after purchasing an additional 129,146 shares during the period. BlackRock Inc. raised its stake in shares of Eagle Bancorp by 5.3% in the 2nd quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock valued at $130,506,000 after purchasing an additional 103,343 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Eagle Bancorp by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,386,541 shares of the financial services provider’s stock valued at $92,968,000 after purchasing an additional 66,279 shares during the period. 68.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Eagle Bancorp (NASDAQ:EGBN) opened at $57.90 on Thursday. Eagle Bancorp has a 12 month low of $46.20 and a 12 month high of $69.80. The stock has a market capitalization of $1,978.90, a PE ratio of 17.98 and a beta of 0.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a return on equity of 12.37% and a net margin of 32.40%. The firm had revenue of $71.94 million for the quarter, compared to the consensus estimate of $72.66 million. During the same quarter last year, the business posted $0.72 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. equities research analysts forecast that Eagle Bancorp will post 3.34 earnings per share for the current fiscal year.

WARNING: “Eagle Bancorp, Inc. (EGBN) Sees Significant Drop in Short Interest” was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.chaffeybreeze.com/2018/01/04/eagle-bancorp-inc-egbn-sees-significant-drop-in-short-interest.html.

About Eagle Bancorp

Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.

Receive News & Ratings for Eagle Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply