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

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a significant decrease in short interest during the month of 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 presently 5.7 days. Currently, 5.6% of the shares of the company are short sold.

Eagle Bancorp Price Performance

Shares of EGBN traded up $0.14 during trading hours on Monday, reaching $24.64. 149,560 shares of the company traded hands, compared to its average volume of 250,058. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $744.18 million, a PE ratio of -17.60 and a beta of 1.10. Eagle Bancorp has a fifty-two week low of $15.99 and a fifty-two week high of $30.94. The stock has a fifty day simple moving average of $27.47 and a 200 day simple moving average of $24.10.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.27. The business had revenue of $180.76 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.91 earnings per share. As a group, research analysts predict that Eagle Bancorp will post 1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

EGBN has been the subject of several research analyst reports. Piper Sandler initiated coverage on Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective 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, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

Institutional Trading of Eagle Bancorp

A number of large investors have recently made changes to their positions in the stock. Fourthstone LLC acquired a new stake in Eagle Bancorp in the 3rd quarter worth about $5,972,000. AQR Capital Management LLC boosted its stake in 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 worth $10,191,000 after buying an additional 187,249 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Eagle Bancorp by 13.7% in 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 last quarter. Algert Global LLC boosted its stake in Eagle Bancorp by 146.4% in the 3rd quarter. Algert Global LLC now owns 154,462 shares of the financial services provider’s stock worth $3,488,000 after buying an additional 91,782 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Eagle Bancorp by 401.1% in the 2nd quarter. Renaissance Technologies LLC now owns 105,636 shares of the financial services provider’s stock worth $1,997,000 after buying an additional 84,556 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

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.