Brokerages Anticipate Eagle Bancorp, Inc. (EGBN) Will Post Quarterly Sales of $80.18 Million
Analysts expect Eagle Bancorp, Inc. (NASDAQ:EGBN) to post $80.18 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made 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 during the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The firm is expected to issue its next quarterly earnings report on Wednesday, October 18th.
On average, analysts expect that Eagle Bancorp will report full year sales of $80.18 million for the current financial year, with estimates ranging from $310.50 million to $313.16 million. For the next year, analysts forecast that the business will post sales of $350.74 million per share, with estimates ranging from $344.30 million to $357.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last issued its 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. The firm had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $75.41 million. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. During the same period last year, the firm posted $0.71 earnings per share.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a report on Friday, May 19th. BidaskClub upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, FIG Partners upgraded shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price objective for the company in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $67.25.
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Shares of Eagle Bancorp (EGBN) opened at 61.50 on Friday. Eagle Bancorp has a one year low of $47.20 and a one year high of $65.00. The company has a market capitalization of $2.10 billion, a PE ratio of 20.03 and a beta of 0.70. The company’s 50-day moving average is $62.67 and its 200-day moving average is $60.79.
In related news, CEO Ronald D. Paul sold 7,791 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $63.50, for a total transaction of $494,728.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald D. Paul sold 706 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $64.12, for a total transaction of $45,268.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,924 shares of company stock valued at $2,074,098. Corporate insiders own 8.39% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGBN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 period. Oppenheimer Asset Management Inc. bought a new position in Eagle Bancorp during the first quarter valued at $124,000. Ameritas Investment Partners Inc. bought a new position in Eagle Bancorp during the first quarter valued at $158,000. Burt Wealth Advisors boosted its position in Eagle Bancorp by 4.8% in the first quarter. Burt Wealth Advisors now owns 3,235 shares of the financial services provider’s stock valued at $193,000 after buying an additional 148 shares during the period. Finally, Prudential Financial Inc. boosted its position in 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 period. Institutional investors own 66.55% of the company’s stock.
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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