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

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the recipient of a large drop in short interest during 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. Approximately 5.6% of the company’s shares are short sold. Based on an average daily trading volume, of 285,800 shares, the short-interest ratio is currently 5.7 days.

Hedge Funds Weigh In On Eagle Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in shares of Eagle Bancorp in the second quarter worth $35,000. Point72 DIFC Ltd acquired a new position in Eagle Bancorp during the 3rd quarter worth $48,000. GAMMA Investing LLC increased its position in shares of Eagle Bancorp by 102.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Eagle Bancorp by 49.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares in the last quarter. Finally, FMR LLC lifted its position 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 worth $108,000 after purchasing an additional 2,197 shares during the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EGBN has been the subject of several research reports. Piper Sandler assumed coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They set a “neutral” rating and a $27.00 price objective for the company. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Eagle Bancorp Stock Performance

Shares of EGBN stock traded up $0.14 on Friday, hitting $24.64. The stock had a trading volume of 149,560 shares, compared to its average volume of 250,058. The stock’s 50 day moving average is $27.47 and its 200-day moving average is $24.06. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $30.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $80.31 million. During the same period last year, the firm earned $0.91 earnings per share. On average, sell-side analysts forecast that Eagle Bancorp will post 1.9 EPS for the current year.

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.