Equities analysts forecast that Eagle Bancorp, Inc. (NASDAQ:EGBN) will post sales of $82.88 million for the current quarter, according to Zacks. Two analysts have provided estimates for Eagle Bancorp’s earnings, with the lowest sales estimate coming in at $82.55 million and the highest estimate coming in at $83.20 million. Eagle Bancorp reported sales of $73.47 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.8%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, April 18th.
According to Zacks, analysts expect that Eagle Bancorp will report full year sales of $82.88 million for the current fiscal year, with estimates ranging from $342.21 million to $349.20 million. For the next year, analysts forecast that the firm will report sales of $379.71 million per share, with estimates ranging from $371.12 million to $388.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Eagle Bancorp had a net margin of 28.32% and a return on equity of 12.49%. The business had revenue of $84.86 million for the quarter, compared to analyst estimates of $80.80 million.
A number of research analysts recently issued reports on EGBN shares. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a research note on Friday, January 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $66.00 price target on shares of Eagle Bancorp in a report on Friday, December 22nd. Stephens raised shares of Eagle Bancorp from an “equal weight” rating to an “overweight” rating and set a $69.00 price target for the company in a report on Friday, January 19th. Boenning Scattergood reissued a “buy” rating and issued a $72.25 price target on shares of Eagle Bancorp in a report on Wednesday, March 28th. Finally, BidaskClub raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Eagle Bancorp presently has a consensus rating of “Buy” and a consensus target price of $68.85.
NASDAQ:EGBN traded down $0.60 during midday trading on Monday, reaching $58.40. The stock had a trading volume of 104,154 shares, compared to its average volume of 145,589. Eagle Bancorp has a 1-year low of $46.20 and a 1-year high of $69.80. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2,024.15, a PE ratio of 17.43 and a beta of 0.88.
A number of institutional investors have recently modified their holdings of EGBN. Meeder Asset Management Inc. boosted its holdings in Eagle Bancorp by 984.3% in the 4th quarter. Meeder Asset Management Inc. now owns 2,624 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 2,382 shares during the period. Zions Bancorporation bought a new position in shares of Eagle Bancorp during the 3rd quarter worth about $231,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Eagle Bancorp during the 4th quarter worth about $236,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Eagle Bancorp by 38.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,966 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 1,092 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of Eagle Bancorp by 29.2% during the 4th quarter. D.A. Davidson & CO. now owns 4,830 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 1,091 shares during the period. 69.87% of the stock is owned by hedge funds and other institutional investors.
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About Eagle Bancorp
Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.
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