Short Interest in Eagle Bancorp, Inc. (NASDAQ:EGBN) Decreases By 9.4%

Eagle Bancorp, Inc. (NASDAQ:EGBN) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,540,000 shares, a decline of 9.4% from the August 31st total of 1,700,000 shares. Based on an average trading volume of 301,500 shares, the short-interest ratio is presently 5.1 days. Currently, 5.3% of the company’s shares are short sold.

Eagle Bancorp Trading Down 1.0 %

NASDAQ EGBN traded down $0.21 during trading on Friday, hitting $21.89. The stock had a trading volume of 347,176 shares, compared to its average volume of 308,826. Eagle Bancorp has a twelve month low of $15.99 and a twelve month high of $31.97. The company has a market capitalization of $660.86 million, a PE ratio of 8.72 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. The firm has a 50 day moving average price of $21.19 and a 200 day moving average price of $20.36.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.34. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. The business had revenue of $175.06 million during the quarter, compared to the consensus estimate of $80.90 million. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, equities research analysts forecast that Eagle Bancorp will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On Eagle Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp boosted its holdings in Eagle Bancorp by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 26,191 shares of the financial services provider’s stock valued at $615,000 after purchasing an additional 515 shares in the last quarter. Carmichael Hill & Associates Inc. boosted its holdings in Eagle Bancorp by 36.1% in the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 721 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Eagle Bancorp by 5.1% in the first quarter. Illinois Municipal Retirement Fund now owns 18,028 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 870 shares in the last quarter. XML Financial LLC boosted its holdings in Eagle Bancorp by 4.7% in the first quarter. XML Financial LLC now owns 19,986 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 900 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Eagle Bancorp in the first quarter valued at approximately $26,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EGBN. StockNews.com lowered shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, June 9th. Keefe, Bruyette & Woods lifted their target price on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

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.