Eagle Bancorp, Inc. (NASDAQ:EGBN) sees a significant drop in short-term interest
Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) benefited from a significant drop in short interest during the month of April. As of April 15, there was short interest totaling 467,500 shares, down 18.7% from the March 31 total of 575,200 shares. About 1.5% of the stock’s shares are sold short. Based on an average daily volume of 147,400 shares, the day-to-cover ratio is currently 3.2 days.
Institutional investors and hedge funds have recently increased or reduced their stake in the company. American Century Companies Inc. increased its position in shares of Eagle Bancorp by 35.0% during the fourth quarter. American Century Companies Inc. now owns 108,502 shares of the financial services provider worth $6,330,000 after purchasing an additional 28,124 shares during the period. Segall Bryant & Hamill LLC increased its position in Eagle Bancorp shares by 2.7% during the third quarter. Segall Bryant & Hamill LLC now owns 80,471 shares of the financial services provider worth $4,627,000 after purchasing an additional 2,142 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Eagle Bancorp during the third quarter worth $42,000. Teacher Retirement System of Texas increased its position in Eagle Bancorp shares by 26.5% during the third quarter. Teacher Retirement System of Texas now owns 5,141 shares of the financial services provider worth $296,000 after buying 1,078 additional shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in Eagle Bancorp in the fourth quarter worth $1,521,000. Institutional investors and hedge funds own 73.83% of the company’s shares.
Several equity research analysts have recently commented on EGBN shares. StockNews.com began covering Eagle Bancorp in a report on Thursday, March 31. They issued a “holding” rating for the company. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a target price of $66.00 for the company in a Tuesday, March 22 research note.
EGBN Stock opened at $50.59 on Tuesday. The stock’s fifty-day simple moving average is $56.57. The company has a debt ratio of 0.06, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $1.62 billion, a PE ratio of 9.07 and a beta of 0.98. Eagle Bancorp has a 52-week low of $49.72 and a 52-week high of $63.84.
Eagle Bancorp (NASDAQ: EGBN – Get a rating) last released its quarterly results on Wednesday, April 20. The financial services provider reported EPS of $1.42 for the quarter, beating the consensus estimate of $1.06 by $0.36. Eagle Bancorp had a return on equity of 13.63% and a net margin of 45.21%. In the same quarter last year, the company earned earnings per share of $1.36. As a group, analysts predict Eagle Bancorp will post EPS of 4.78 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 29. Shareholders of record on Monday, April 11 received a dividend of $0.40 per share. The ex-dividend date was Friday, April 8. This represents an annualized dividend of $1.60 and a dividend yield of 3.16%. Eagle Bancorp’s dividend payout ratio is currently 28.67%.
Eagle Bancorp Company Profile (Get a rating)
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 consumer and commercial loan 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.
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