Eagle Bancorp, Inc. (EGBN) Expected to Post Earnings of $0.81 Per Share
Equities analysts expect Eagle Bancorp, Inc. (NASDAQ:EGBN) to post $0.81 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Eagle Bancorp’s earnings, with the lowest EPS estimate coming in at $0.80 and the highest estimate coming in at $0.83. Eagle Bancorp posted earnings of $0.72 per share during the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The company is scheduled to report its next earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Eagle Bancorp will report full-year earnings of $3.22 per share for the current financial year, with EPS estimates ranging from $3.21 to $3.23. For the next financial year, analysts anticipate that the business will post earnings of $3.50 per share, with EPS estimates ranging from $3.49 to $3.50. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.39%. The company had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. During the same period last year, the firm earned $0.71 earnings per share.
A number of brokerages recently commented on EGBN. BidaskClub upgraded shares of Eagle Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price target on shares of Eagle Bancorp in a research note on Wednesday, April 5th. Finally, FIG Partners upgraded shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price target on the stock in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $66.75.
Shares of Eagle Bancorp (NASDAQ:EGBN) traded down 0.31% on Friday, hitting $63.70. 27,615 shares of the stock traded hands. The stock has a 50 day moving average price of $62.13 and a 200-day moving average price of $60.47. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 21.45 and a beta of 0.71. Eagle Bancorp has a 52 week low of $47.20 and a 52 week high of $65.00.
In other news, Director Leland M. Weinstein sold 3,932 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $62.97, for a total value of $247,598.04. Following the transaction, the director now owns 64,274 shares of the company’s stock, valued at approximately $4,047,333.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald D. Paul sold 7,791 shares of the stock in a transaction on 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. Insiders have sold a total of 20,018 shares of company stock worth $1,258,441 in the last ninety days. 8.39% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Aperio Group LLC boosted its stake in shares of Eagle Bancorp by 65.7% in the second quarter. Aperio Group LLC now owns 8,339 shares of the financial services provider’s stock worth $528,000 after buying an additional 3,305 shares during the period. Fisher Asset Management LLC boosted its stake in Eagle Bancorp by 19.0% in the second quarter. Fisher Asset Management LLC now owns 73,927 shares of the financial services provider’s stock valued at $4,680,000 after buying an additional 11,829 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Eagle Bancorp during the first quarter valued at approximately $1,037,000. UBS Oconnor LLC bought a new stake in Eagle Bancorp during the first quarter valued at approximately $896,000. Finally, Colony Group LLC boosted its stake in Eagle Bancorp by 4.0% in the first quarter. Colony Group LLC now owns 36,679 shares of the financial services provider’s stock valued at $2,190,000 after buying an additional 1,410 shares in the last quarter. 66.87% 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. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eagle Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.