Eagle Bancorp, Inc. (NASDAQ:EGBN) Short Interest Up 13.4% in March

Eagle Bancorp, Inc. (NASDAQ:EGBNGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,460,000 shares, an increase of 13.4% from the February 29th total of 2,170,000 shares. Currently, 8.5% of the shares of the stock are sold short. Based on an average trading volume of 295,500 shares, the days-to-cover ratio is currently 8.3 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th.

Get Our Latest Stock Report on Eagle Bancorp

Eagle Bancorp Stock Performance

EGBN stock traded down $0.49 during trading on Tuesday, reaching $22.25. The stock had a trading volume of 188,111 shares, compared to its average volume of 305,295. Eagle Bancorp has a 52 week low of $16.72 and a 52 week high of $34.12. The stock’s 50 day moving average is $23.68 and its two-hundred day moving average is $24.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm has a market cap of $665.94 million, a PE ratio of 6.74 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBNGet Free Report) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). The firm had revenue of $75.89 million during the quarter, compared to the consensus estimate of $75.67 million. Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. As a group, equities analysts anticipate that Eagle Bancorp will post 2.32 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, April 18th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.09%. Eagle Bancorp’s dividend payout ratio is presently 54.55%.

Insider Activity

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total value of $505,560.00. Following the completion of the sale, the executive vice president now owns 9,075 shares in the company, valued at approximately $208,543.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Eagle Bancorp by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,387 shares of the financial services provider’s stock valued at $9,832,000 after acquiring an additional 38,678 shares during the period. New York State Common Retirement Fund grew its stake in Eagle Bancorp by 138.5% during the 3rd quarter. New York State Common Retirement Fund now owns 30,637 shares of the financial services provider’s stock worth $657,000 after buying an additional 17,793 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Eagle Bancorp during the 3rd quarter worth $692,000. Gamco Investors INC. ET AL grew its stake in Eagle Bancorp by 8.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 322,599 shares of the financial services provider’s stock worth $6,920,000 after buying an additional 24,931 shares during the last quarter. Finally, Graham Capital Management L.P. grew its stake in Eagle Bancorp by 74.7% during the 2nd quarter. Graham Capital Management L.P. now owns 41,287 shares of the financial services provider’s stock worth $874,000 after buying an additional 17,648 shares during the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Bancorp

(Get Free Report)

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.

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