Eagle Bancorp, Inc. (NASDAQ:EGBN) Short Interest Up 14.6% in June

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,270,000 shares, a growth of 14.6% from the May 31st total of 1,980,000 shares. Approximately 7.8% of the shares of the company are sold short. Based on an average trading volume of 320,800 shares, the short-interest ratio is currently 7.1 days.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday, June 9th.

Eagle Bancorp Stock Performance

EGBN opened at $18.90 on Monday. The stock has a market capitalization of $570.59 million, a price-to-earnings ratio of 7.53 and a beta of 1.08. The company has a fifty day moving average of $18.71 and a 200 day moving average of $22.86. Eagle Bancorp has a fifty-two week low of $15.99 and a fifty-two week high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, April 24th. The financial services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.60). The company had revenue of $78.29 million for the quarter, compared to analysts’ expectations of $75.51 million. Eagle Bancorp had a net margin of 11.14% and a return on equity of 6.11%. On average, equities research analysts forecast that Eagle Bancorp will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other Eagle Bancorp news, Director A. Leslie Ludwig purchased 1,500 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average cost of $16.89 per share, for a total transaction of $25,335.00. Following the completion of the transaction, the director now owns 41,413 shares of the company’s stock, valued at $699,465.57. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director A. Leslie Ludwig acquired 1,500 shares of Eagle Bancorp stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $16.89 per share, with a total value of $25,335.00. Following the completion of the purchase, the director now directly owns 41,413 shares in the company, valued at approximately $699,465.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Susan G. Riel acquired 5,260 shares of Eagle Bancorp stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average cost of $18.73 per share, with a total value of $98,519.80. Following the completion of the purchase, the chief executive officer now owns 332,210 shares of the company’s stock, valued at $6,222,293.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 9,582 shares of company stock worth $173,108. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its stake in Eagle Bancorp by 1,910.2% during the fourth quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 936 shares in the last quarter. Riverview Trust Co bought a new position in Eagle Bancorp during the first quarter valued at $26,000. Gladius Capital Management LP lifted its position in Eagle Bancorp by 762.4% during the fourth quarter. Gladius Capital Management LP now owns 1,466 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 1,296 shares during the last quarter. GAMMA Investing LLC bought a new position in Eagle Bancorp during the fourth quarter valued at $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Eagle Bancorp by 24.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,649 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 1,309 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.