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

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

Eagle Bancorp Stock Down 0.1 %

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

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). The company had revenue of $75.89 million during the quarter, compared to analyst estimates of $75.67 million. Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. Sell-side analysts anticipate that Eagle Bancorp will post 2.32 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, April 18th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date is Wednesday, April 17th. Eagle Bancorp’s dividend payout ratio (DPR) is presently 54.55%.

Insiders Place Their Bets

In other news, EVP Lindsey S. Rheaume sold 22,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were 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 of the company’s stock, valued at $208,543.50. The sale 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EGBN. Riverview Trust Co acquired a new position in Eagle Bancorp in the first quarter valued at about $26,000. Lazard Asset Management LLC acquired a new position in Eagle Bancorp during the third quarter worth about $26,000. Belpointe Asset Management LLC raised its stake in Eagle Bancorp by 320.5% during the first quarter. Belpointe Asset Management LLC now owns 820 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 625 shares in the last quarter. Versant Capital Management Inc raised 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 worth $30,000 after acquiring an additional 936 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Eagle Bancorp during the third quarter worth about $32,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

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

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.