Short Interest in Eagle Bancorp, Inc. (NASDAQ:EGBN) Decreases By 6.4%

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a large decline in short interest during the month of 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. Based on an average daily volume of 285,800 shares, the short-interest ratio is currently 5.7 days. Currently, 5.6% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised their target price on shares of 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 shares of Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price target for the company.

Institutional Trading of Eagle Bancorp

Several large investors have recently modified their holdings of EGBN. Point72 Asset Management L.P. purchased a new stake in Eagle Bancorp during the 2nd quarter worth about $35,000. Point72 DIFC Ltd acquired a new stake in shares of Eagle Bancorp during the 3rd quarter worth about $48,000. GAMMA Investing LLC grew its holdings in shares of Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,234 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Eagle Bancorp by 49.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after buying an additional 846 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Eagle Bancorp by 84.9% during the third quarter. FMR LLC now owns 4,785 shares of the financial services provider’s stock valued at $108,000 after buying an additional 2,197 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Price Performance

EGBN stock traded up $0.14 during midday trading on Friday, hitting $24.64. 149,560 shares of the stock were exchanged, compared to its average volume of 250,058. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. Eagle Bancorp has a fifty-two week low of $15.99 and a fifty-two week high of $30.94. The stock’s 50-day moving average price is $27.47 and its 200-day moving average price is $24.06.

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

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.