Boenning Scattergood Comments on Eagle Bancorp Inc.’s Q3 2016 Earnings (EGBN)
Eagle Bancorp Inc. (NASDAQ:EGBN) – Research analysts at Boenning Scattergood cut their Q3 2016 earnings per share estimates for Eagle Bancorp in a research note issued on Thursday. Boenning Scattergood analyst M. Schultheis now anticipates that the brokerage will earn $0.64 per share for the quarter, down from their prior estimate of $0.68. Boenning Scattergood also issued estimates for Eagle Bancorp’s Q4 2016 earnings at $0.66 EPS, FY2016 earnings at $2.69 EPS and FY2017 earnings at $2.92 EPS.
Separately, Zacks Investment Research lowered shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th.
Eagle Bancorp (NASDAQ:EGBN) opened at 48.96 on Monday. Eagle Bancorp has a 12-month low of $43.75 and a 12-month high of $55.56. The company has a market capitalization of $1.64 billion, a PE ratio of 18.34 and a beta of 0.82. The stock has a 50 day moving average of $49.86 and a 200 day moving average of $49.61.
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Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. Eagle Bancorp had a net margin of 30.91% and a return on equity of 12.15%. During the same period in the previous year, the firm earned $0.61 earnings per share.
In other news, Director Leslie M. Alperstein sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $49.24, for a total transaction of $246,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dudley C. Dworken sold 1,167 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $50.31, for a total transaction of $58,711.77. The disclosure for this sale can be found here. Insiders own 9.99% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Eagle Bancorp by 19.4% in the second quarter. PNC Financial Services Group Inc. now owns 1,405,936 shares of the financial services provider’s stock worth $67,640,000 after buying an additional 228,663 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Eagle Bancorp by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,596,262 shares of the financial services provider’s stock valued at $124,620,000 after buying an additional 187,807 shares in the last quarter. State Street Corp increased its position in shares of Eagle Bancorp by 25.3% in the first quarter. State Street Corp now owns 603,991 shares of the financial services provider’s stock valued at $28,994,000 after buying an additional 122,105 shares in the last quarter. Bellevue Group AG purchased a new position in shares of Eagle Bancorp during the first quarter valued at about $3,783,000. Finally, APG Asset Management N.V. purchased a new position in shares of Eagle Bancorp during the second quarter valued at about $4,449,000. 67.68% of the stock is 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, which operates over 20 banking offices in Montgomery County, Maryland; District of Columbia, and Northern Virginia. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area.
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