Eagle Bancorp, Inc. (NASDAQ:EGBN) Sees Significant Decrease in Short Interest

Eagle Bancorp, Inc. (NASDAQ:EGBNGet Rating) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 630,100 shares, a drop of 10.1% from the September 30th total of 700,600 shares. Based on an average trading volume of 133,900 shares, the days-to-cover ratio is currently 4.7 days. Approximately 2.0% of the shares of the stock are sold short.

Eagle Bancorp Price Performance

Shares of EGBN stock traded up $0.87 during trading hours on Friday, hitting $45.35. The stock had a trading volume of 205,833 shares, compared to its average volume of 134,941. Eagle Bancorp has a one year low of $41.97 and a one year high of $63.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s 50-day moving average price is $46.40 and its two-hundred day moving average price is $48.13. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.73 and a beta of 0.91.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.80 annualized dividend and a dividend yield of 3.97%. Eagle Bancorp’s dividend payout ratio (DPR) is 38.63%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Eagle Bancorp in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Eagle Bancorp

Several large investors have recently made changes to their positions in EGBN. Millennium Management LLC increased its holdings in shares of 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 purchasing an additional 321,218 shares during the last quarter. Bank of Montreal Can increased its stake in Eagle Bancorp by 2,403.4% during the second quarter. Bank of Montreal Can now owns 217,697 shares of the financial services provider’s stock worth $10,469,000 after acquiring an additional 209,001 shares during the last quarter. FMR LLC increased its stake in Eagle Bancorp by 13.7% during the second quarter. FMR LLC now owns 1,463,109 shares of the financial services provider’s stock worth $69,366,000 after acquiring an additional 176,776 shares during the last quarter. Invesco Ltd. increased its stake in Eagle Bancorp by 95.6% during the first quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider’s stock worth $17,376,000 after acquiring an additional 148,941 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Eagle Bancorp by 923.1% during the second quarter. Cubist Systematic Strategies LLC now owns 147,524 shares of the financial services provider’s stock worth $6,994,000 after acquiring an additional 133,105 shares during the last quarter. 73.95% of the stock is owned by institutional investors.

About Eagle Bancorp

(Get Rating)

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.

Further Reading

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