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

Eagle Bancorp, Inc. (NASDAQ:EGBN) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 1,620,000 shares, a drop 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 presently 5.7 days. Currently, 5.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Eagle Bancorp by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock worth $16,254,000 after acquiring an additional 25,578 shares in the last quarter. Empowered Funds LLC grew its position in shares of Eagle Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock worth $639,000 after acquiring an additional 1,340 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Eagle Bancorp by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 450 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Eagle Bancorp by 41.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock worth $1,256,000 after acquiring an additional 16,338 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Eagle Bancorp by 63.9% in 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 in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Stock Up 0.6 %

EGBN stock traded up $0.14 during midday trading on Monday, hitting $24.64. 149,560 shares of the company’s 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 12-month low of $15.99 and a 12-month high of $30.94. The firm has a 50 day moving average price of $27.47 and a 200-day moving average price of $24.10. The stock has a market capitalization of $744.18 million, a price-to-earnings ratio of -17.60 and a beta of 1.10.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data 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 company had revenue of $180.76 million for 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 period in the previous year, the business earned $0.91 EPS. On average, analysts anticipate that Eagle Bancorp will post 1.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler assumed coverage on Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

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.