Brokerages expect Eagle Bancorp, Inc. (NASDAQ:EGBN) to report sales of $81.18 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Eagle Bancorp’s earnings, with estimates ranging from $80.80 million to $81.56 million. Eagle Bancorp posted sales of $74.04 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, January 17th.
On average, analysts expect that Eagle Bancorp will report full-year sales of $81.18 million for the current year, with estimates ranging from $309.10 million to $309.96 million. For the next financial year, analysts forecast that the company will report sales of $345.37 million per share, with estimates ranging from $339.90 million to $350.83 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. Eagle Bancorp had a return on equity of 12.59% and a net margin of 32.40%. The business had revenue of $71.94 million during the quarter, compared to analysts’ expectations of $72.66 million. During the same quarter in the previous year, the firm earned $0.72 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year.
A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $64.00 price target on shares of Eagle Bancorp in a report on Tuesday, October 3rd. Zacks Investment Research cut Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Eagle Bancorp in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Eagle Bancorp currently has a consensus rating of “Hold” and a consensus target price of $68.50.
In other news, CEO Ronald D. Paul sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $64.40, for a total transaction of $51,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald D. Paul sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $62.20, for a total value of $466,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,303 shares of company stock valued at $9,116,230. Corporate insiders own 8.39% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Eagle Bancorp in the first quarter valued at approximately $124,000. 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 in the last quarter. 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 in the last quarter. Finally, Amalgamated Bank raised its position in shares of Eagle Bancorp by 7.5% in the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after buying an additional 283 shares in the last quarter. Institutional investors own 68.15% of the company’s stock.
Eagle Bancorp (EGBN) traded down 0.67% during trading on Thursday, hitting $67.05. The company had a trading volume of 120,068 shares. Eagle Bancorp has a one year low of $47.20 and a one year high of $68.90. The stock has a market capitalization of $2.29 billion, a PE ratio of 21.84 and a beta of 0.74. The stock has a 50-day moving average of $65.64 and a 200-day moving average of $62.21.
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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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