$80.18 Million in Sales Expected for Eagle Bancorp, Inc. (EGBN) This Quarter
Equities research analysts expect that Eagle Bancorp, Inc. (NASDAQ:EGBN) will announce sales of $80.18 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Eagle Bancorp’s earnings, with estimates ranging from $79.50 million to $80.85 million. Eagle Bancorp reported sales of $71.13 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The firm is expected to report its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Eagle Bancorp will report full year sales of $80.18 million for the current fiscal year, with estimates ranging from $310.50 million to $313.16 million. For the next fiscal year, analysts anticipate that the business will post sales of $350.74 million per share, with estimates ranging from $344.30 million to $357.18 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. The business had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. During the same period in the prior year, the company posted $0.71 EPS.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, August 22nd. BidaskClub downgraded shares of Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a research report on Friday, May 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $66.75.
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Shares of Eagle Bancorp (EGBN) opened at 61.65 on Wednesday. Eagle Bancorp has a 1-year low of $47.20 and a 1-year high of $65.00. The firm’s 50 day moving average is $62.37 and its 200 day moving average is $60.86. The firm has a market capitalization of $2.11 billion, a PE ratio of 20.08 and a beta of 0.70.
In other Eagle Bancorp news, CEO Ronald D. Paul sold 706 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $64.12, for a total transaction of $45,268.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ronald D. Paul sold 7,791 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $63.50, for a total transaction of $494,728.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,133 shares of company stock worth $2,149,455. 8.39% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in EGBN. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Eagle Bancorp by 158.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,162 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Eagle Bancorp during the first quarter valued at $124,000. Ameritas Investment Partners Inc. bought a new position in shares of Eagle Bancorp during the first quarter valued at $158,000. Prudential Financial Inc. raised its position in shares of Eagle Bancorp by 0.3% in the first quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock valued at $203,000 after buying an additional 10 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Eagle Bancorp by 49.9% in the second quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock valued at $223,000 after buying an additional 1,177 shares during the last quarter. 68.17% of the stock is currently owned by institutional investors.
About Eagle Bancorp
Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.
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