Short Interest in Eagle Bancorp, Inc. (NASDAQ:EGBN) Decreases By 15.6%

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,300,000 shares, a drop of 15.6% from the September 15th total of 1,540,000 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average trading volume of 328,400 shares, the short-interest ratio is currently 4.0 days.

Eagle Bancorp Stock Up 1.7 %

EGBN traded up $0.41 during midday trading on Monday, hitting $24.10. 253,537 shares of the company’s stock traded hands, compared to its average volume of 318,234. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $727.58 million, a PE ratio of 9.60 and a beta of 1.09. The stock’s fifty day simple moving average is $21.40 and its 200-day simple moving average is $20.40. Eagle Bancorp has a one year low of $15.99 and a one year high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.34. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The business had revenue of $175.06 million during the quarter, compared to analysts’ expectations of $80.90 million. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, equities analysts anticipate that Eagle Bancorp will post 1.46 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be given a $0.165 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.66 annualized dividend and a yield of 2.74%. Eagle Bancorp’s dividend payout ratio (DPR) is currently 26.29%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their target price on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Institutional Trading of Eagle Bancorp

Several institutional investors have recently made changes to their positions in EGBN. State Board of Administration of Florida Retirement System lifted its position in shares of Eagle Bancorp by 434.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,699 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 37,957 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Eagle Bancorp in the 1st quarter valued at $591,000. Vanguard Group Inc. raised its position in shares of Eagle Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock worth $101,351,000 after acquiring an additional 126,085 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in Eagle Bancorp by 76.9% in the first quarter. Epoch Investment Partners Inc. now owns 457,881 shares of the financial services provider’s stock valued at $10,756,000 after acquiring an additional 199,057 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Eagle Bancorp by 39.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 115,739 shares of the financial services provider’s stock worth $2,188,000 after purchasing an additional 33,021 shares during the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.

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.