Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) benefited from a significant drop in short-term interest rates in August. As of August 31, there was short interest totaling 763,600 shares, down 15.1% from the total of 899,500 shares as of August 15. Approximately 2.4% of the company’s shares are sold short. Based on an average daily volume of 171,600 shares, the day-to-cover ratio is currently 4.4 days.
Institutional entries and exits
Major investors have recently changed their stake in the company. Teacher Retirement System of Texas increased its stake in Eagle Bancorp by 18.4% in Q4. Teacher Retirement System of Texas now owns 6,087 shares of the financial services provider valued at $355,000 after buying 946 additional shares in the last quarter. Citigroup Inc. increased its holdings of Eagle Bancorp shares by 38.5% during the fourth quarter. Citigroup Inc. now owns 26,506 shares of the financial services provider worth $1,547,000 after purchasing an additional 7,369 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Eagle Bancorp in the fourth quarter worth $1,521,000. JPMorgan Chase & Co. raised its position in Eagle Bancorp by 60.6% in the fourth quarter. JPMorgan Chase & Co. now owns 158,591 shares of the financial services provider worth $9,252,000 after buying an additional 59,870 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Eagle Bancorp by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 280,614 shares of the financial services provider worth $16,372,000 after buying 3,917 additional shares during the period. 73.95% of the shares are currently held by institutional investors.
A Wall Street analyst gives his opinion
Separately, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a Friday, September 9 research note.
Eagle Bancorp Price Performance
Eagle Bancorp shares were down $0.17 on Friday, hitting $46.79. 337,702 shares were traded, against an average volume of 115,077. The company’s 50-day moving average is $48.18 and its 200-day moving average is $50.70. The company has a market capitalization of $1.50 billion, a PE ratio of 9.63 and a beta of 0.92. The company has a debt ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. Eagle Bancorp has a one-year low of $44.85 and a one-year high of $63.84.
Eagle Bancorp (NASDAQ:EGBN – Get a rating) last reported quarterly earnings data on Wednesday, July 20. The financial services provider reported earnings per share of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a return on equity of 13.01% and a net margin of 39.92%. The company posted revenue of $88.48 million for the quarter, versus a consensus estimate of $91.00 million. In the same quarter of the previous year, the company had earned earnings per share of $1.50. As a group, analysts expect Eagle Bancorp to post 4.97 EPS for the current fiscal year.
About Eagle Bancorp
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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