Eagle Bancorp, Inc. (NASDAQ:EGBN) Short Interest Down 14.2% in March

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,110,000 shares, a drop of 14.2% from the March 15th total of 2,460,000 shares. Currently, 7.3% of the shares of the company are short sold. Based on an average daily trading volume, of 295,400 shares, the short-interest ratio is currently 7.1 days.

Insider Transactions at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of Eagle Bancorp stock in a transaction dated 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 transaction, the executive vice president now owns 9,075 shares in the company, valued at $208,543.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

Large investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in Eagle Bancorp by 436.6% in the second quarter. Millennium Management LLC now owns 394,797 shares of the financial services provider’s stock worth $18,717,000 after buying an additional 321,218 shares in the last quarter. Norges Bank bought a new position in Eagle Bancorp in the fourth quarter worth approximately $13,538,000. State Street Corp raised its stake in Eagle Bancorp by 19.9% in the second quarter. State Street Corp now owns 1,766,877 shares of the financial services provider’s stock worth $37,387,000 after buying an additional 292,648 shares in the last quarter. AQR Capital Management LLC raised its stake in Eagle Bancorp by 378.9% in the third quarter. AQR Capital Management LLC now owns 361,217 shares of the financial services provider’s stock worth $7,748,000 after buying an additional 285,790 shares in the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in Eagle Bancorp in the fourth quarter worth approximately $7,801,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Analyst Ratings Changes

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

Eagle Bancorp Stock Down 0.1 %

Shares of NASDAQ EGBN opened at $21.31 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $637.81 million, a price-to-earnings ratio of 6.46 and a beta of 1.02. The stock has a 50 day moving average price of $22.94 and a 200 day moving average price of $24.11. Eagle Bancorp has a 52-week low of $16.72 and a 52-week high of $32.20.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) 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 analysts’ expectations of $75.67 million. Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. Sell-side analysts expect that Eagle Bancorp will post 2.32 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 8.45%. Eagle Bancorp’s payout ratio is 54.55%.

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.