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

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 1,620,000 shares, a decline of 6.4% from the December 15th total of 1,730,000 shares. Approximately 5.6% of the company’s stock are sold short. Based on an average daily trading volume, of 285,800 shares, the days-to-cover ratio is currently 5.7 days.

Eagle Bancorp Stock Performance

Shares of Eagle Bancorp stock traded up $0.14 on Friday, reaching $24.64. 149,560 shares of the stock were exchanged, compared to its average volume of 250,058. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Eagle Bancorp has a 1-year low of $15.99 and a 1-year high of $30.94. The business has a fifty day moving average price of $27.47 and a two-hundred day moving average price of $24.06.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.45 by $0.27. The company had revenue of $180.76 million for the quarter, compared to analyst estimates of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same period in the previous year, the firm earned $0.91 EPS. As a group, research analysts expect that Eagle Bancorp will post 1.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EGBN shares. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Piper Sandler began coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Institutional Trading of Eagle Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Eagle Bancorp by 3.7% in the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after purchasing an additional 25,578 shares during the period. Empowered Funds LLC grew its holdings in Eagle Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after buying an additional 1,340 shares during the period. HighTower Advisors LLC increased its stake in shares of Eagle Bancorp by 4.3% during the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 450 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Eagle Bancorp by 41.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock valued at $1,256,000 after acquiring an additional 16,338 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Eagle Bancorp by 63.9% during the 3rd quarter. Jane Street Group LLC now owns 71,703 shares of the financial services provider’s stock worth $1,619,000 after acquiring an additional 27,942 shares during the period. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

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.