Eagle Bancorp, Inc. (EGBN): Are Hedge Funds Right About This Stock?

As industrywide interest jumped, some big names were breaking ground themselves. Fisher Asset Management, managed by Ken Fisher, initiated the most valuable position in Eagle Bancorp, Inc. (NASDAQ:EGBN). Fisher Asset Management had $2.9 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also made an $0.5 million investment in the stock during the quarter. The only other fund with a brand new EGBN position is David Costen Haley’s HBK Investments.

Let’s now review hedge fund activity in other stocks similar to Eagle Bancorp, Inc. (NASDAQ:EGBN). We will take a look at OSI Systems, Inc. (NASDAQ:OSIS), Virtusa Corporation (NASDAQ:VRTU), LTC Properties Inc (NYSE:LTC), and Seaspan Corporation (NYSE:SSW). This group of stocks’ market valuations match EGBN’s market valuation.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $31 million, lower than the $106 million in EGBN’s case. OSI Systems, Inc. (NASDAQ:OSIS) is the most popular stock in this table with a total of 11 funds reporting long positions, the same as in Eagle Bancorp, Inc. (NASDAQ:EGBN). Therefore, taking into account that hedge funds like this stock in relation to its market cap peers, it may be a good idea to analyze it in more detail and potentially include it in your portfolio.