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

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) saw 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. Currently, 7.3% of the company's shares are sold short. Based on an average daily trading volume, of 295,400 shares, the days-to-cover ratio is presently 7.1 days.

Eagle Bancorp Stock Up 0.6 %

Eagle Bancorp stock traded up $0.13 during mid-day trading on Friday, reaching $21.33. 172,442 shares of the company were exchanged, compared to its average volume of 384,498. 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 cap of $638.41 million, a P/E ratio of 6.46 and a beta of 1.02. The business has a fifty day moving average of $22.99 and a 200 day moving average of $24.11. Eagle Bancorp has a 12-month low of $16.72 and a 12-month high of $32.45.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings data 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). Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. The company had revenue of $75.89 million for the quarter, compared to analysts' expectations of $75.67 million. Research analysts anticipate that Eagle Bancorp will post 2.32 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date of this dividend is Wednesday, April 17th. Eagle Bancorp's dividend payout ratio is currently 54.55%.

Insiders Place Their Bets

In other news, EVP Lindsey S. Rheaume sold 22,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total value of $505,560.00. Following 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 legal filing with the SEC, which is available at this hyperlink. 2.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Eagle Bancorp in the 1st quarter worth $26,000. Lazard Asset Management LLC acquired a new position in shares of Eagle Bancorp during the third quarter valued at about $26,000. Belpointe Asset Management LLC raised its position in shares of Eagle Bancorp by 320.5% in the 1st quarter. Belpointe Asset Management LLC now owns 820 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 625 shares during the last quarter. Versant Capital Management Inc boosted its stake in Eagle Bancorp by 1,910.2% in the 4th quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider's stock worth $30,000 after purchasing an additional 936 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Eagle Bancorp during the third quarter worth $32,000. Hedge funds and other institutional investors own 78.03% of the company's stock.

Wall Street Analyst Weigh In

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

Eagle Bancorp Company Profile

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.