Eagle Bancorp, Inc. (NASDAQ:EGBN) sees a significant drop in short-term interest


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

Eagle Bancorp Price Performance

Shares of EGBN rose $0.87 during Friday trading hours, hitting $45.35. The stock recorded trading volume of 205,833 shares, compared to an average trading volume of 134,941 shares. Eagle Bancorp has a one-year low of $41.97 and a one-year high of $63.84. The company has a debt 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-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 31. Shareholders of record on Monday, October 10 will receive a dividend of $0.45. The ex-date of this dividend is Thursday, October 6. This represents an annualized dividend of $1.80 and a dividend yield of 3.97%. Eagle Bancorp’s dividend payout ratio (DPR) is 38.63%.

A Wall Street analyst gives his opinion

Separately, StockNews.com began covering Eagle Bancorp in a Wednesday, October 12 report. They have set a “holding” rating on the stock.

Institutional investors weigh in on Eagle Bancorp

Several large investors have recently changed their positions in EGBN. Millennium Management LLC increased its equity stake in Eagle Bancorp to 436.6% in the second quarter. Millennium Management LLC now owns 394,797 shares of the financial services provider worth $18,717,000 after purchasing an additional 321,218 shares in 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 worth $10,469,000 after acquiring an additional 209,001 shares in 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 worth $69,366,000 after acquiring an additional 176,776 shares in the last quarter. Invesco Ltd. increased its stake in Eagle Bancorp to 95.6% during the first quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider worth $17,376,000 after acquiring an additional 148,941 shares in 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 worth $6,994,000 after acquiring an additional 133,105 shares in the last quarter. 73.95% of the shares are held by institutional investors.

About Eagle Bancorp

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Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various commercial and consumer lending products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.

Further reading

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