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

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

Eagle Bancorp Trading Up 0.6 %

Shares of NASDAQ EGBN traded up $0.14 during midday trading on Friday, hitting $24.64. The company’s stock had a trading volume of 149,560 shares, compared to its average volume of 250,058. Eagle Bancorp has a 1-year low of $15.99 and a 1-year high of $30.94. The firm’s fifty day moving average price is $27.47 and its 200-day moving average price is $24.06. 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 (NASDAQ:EGBN) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.27. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. The company had revenue of $180.76 million for the quarter, compared to analysts’ expectations of $80.31 million. During the same period last year, the business posted $0.91 earnings per share. On average, equities research analysts forecast that Eagle Bancorp will post 1.9 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Eagle Bancorp

Several institutional investors have recently modified their holdings of EGBN. Dimensional Fund Advisors LP raised its holdings in Eagle Bancorp by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock worth $26,637,000 after buying an additional 169,621 shares during the period. Geode Capital Management LLC raised its holdings in shares of Eagle Bancorp by 3.7% during 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 acquiring an additional 25,578 shares during the period. AQR Capital Management LLC lifted its position in shares of Eagle Bancorp by 53.2% in the 2nd quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock valued at $10,191,000 after acquiring an additional 187,249 shares in the last quarter. American Century Companies Inc. boosted its stake in Eagle Bancorp by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 510,770 shares of the financial services provider’s stock worth $9,654,000 after purchasing an additional 72,415 shares during the period. Finally, Fourthstone LLC purchased a new position in Eagle Bancorp during the 3rd quarter worth approximately $5,972,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

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.