Eagle Bancorp, Inc. (NASDAQ:EGBN) Short Interest Up 14.6% in June

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,270,000 shares, an increase of 14.6% from the May 31st total of 1,980,000 shares. Based on an average daily trading volume, of 320,800 shares, the short-interest ratio is presently 7.1 days. Currently, 7.8% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, June 9th.

Insider Buying and Selling

In other news, CEO Susan G. Riel bought 5,260 shares of the stock in a transaction on Tuesday, April 30th. The stock was purchased at an average price of $18.73 per share, with a total value of $98,519.80. Following the completion of the purchase, the chief executive officer now owns 332,210 shares of the company’s stock, valued at $6,222,293.30. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director A. Leslie Ludwig acquired 1,500 shares of the stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $16.89 per share, with a total value of $25,335.00. Following the completion of the transaction, the director now directly owns 41,413 shares of the company’s stock, valued at $699,465.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Susan G. Riel acquired 5,260 shares of the stock in a transaction dated Tuesday, April 30th. The shares were bought at an average cost of $18.73 per share, with a total value of $98,519.80. Following the transaction, the chief executive officer now directly owns 332,210 shares of the company’s stock, valued at $6,222,293.30. The disclosure for this purchase can be found here. Insiders acquired a total of 9,582 shares of company stock valued at $173,108 over the last ninety days. Insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

A number of hedge funds have recently modified their holdings of EGBN. HighTower Advisors LLC lifted its stake in shares of Eagle Bancorp by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 19,348 shares of the financial services provider’s stock worth $415,000 after buying an additional 612 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Eagle Bancorp by 49.5% during the third quarter. PNC Financial Services Group Inc. now owns 8,819 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 2,921 shares during the period. Kestra Advisory Services LLC bought a new position in Eagle Bancorp during the third quarter worth about $225,000. Mariner LLC increased its position in Eagle Bancorp by 13.4% during the third quarter. Mariner LLC now owns 25,043 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 2,954 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Eagle Bancorp by 175.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,877 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 17,135 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Stock Down 0.9 %

EGBN traded down $0.18 during trading hours on Wednesday, hitting $18.82. 37,900 shares of the company’s stock were exchanged, compared to its average volume of 312,413. Eagle Bancorp has a 1-year low of $15.99 and a 1-year high of $31.97. The stock’s 50-day moving average is $18.58 and its two-hundred day moving average is $22.69. The stock has a market cap of $568.18 million, a price-to-earnings ratio of 7.57 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, April 24th. The financial services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.59 by ($0.60). Eagle Bancorp had a return on equity of 6.11% and a net margin of 11.14%. The business had revenue of $78.29 million for the quarter, compared to analyst estimates of $75.51 million. On average, equities research analysts anticipate that Eagle Bancorp will post 1.36 EPS for the current year.

Eagle Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Saturday, July 20th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.56%. The ex-dividend date of this dividend is Friday, July 19th. Eagle Bancorp’s dividend payout ratio is presently 71.71%.

About Eagle Bancorp

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.