Eagle Bancorp, Inc. (NASDAQ:EGBN) Expected to Post Quarterly Sales of $80.18 Million
Equities analysts expect Eagle Bancorp, Inc. (NASDAQ:EGBN) to post $80.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Eagle Bancorp’s earnings, with the highest sales estimate coming in at $80.85 million and the lowest estimate coming in at $79.50 million. Eagle Bancorp posted sales of $71.13 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The business is scheduled to report its next earnings results on Wednesday, October 18th.
According to Zacks, 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 financial year, analysts expect that the company will post sales of $350.74 million per share, with estimates ranging from $344.30 million to $357.18 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The company had revenue of $76.72 million during the quarter, compared to the consensus estimate of $75.41 million. Eagle Bancorp had a return on equity of 12.17% and a net margin of 31.79%. During the same period in the previous year, the firm posted $0.71 EPS.
A number of research firms have issued reports on EGBN. BidaskClub upgraded shares of Eagle Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $67.25.
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In other news, EVP Antonio F. Marquez sold 2,200 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $63.04, for a total transaction of $138,688.00. Following the transaction, the executive vice president now owns 20,273 shares in the company, valued at approximately $1,278,009.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald D. Paul sold 706 shares of the firm’s stock in a transaction 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 quarter, insiders sold 32,924 shares of company stock valued at $2,074,098. 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 the stock. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $120,000 after buying an additional 1,162 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Eagle Bancorp during the first quarter worth $124,000. Ameritas Investment Partners Inc. acquired a new position in Eagle Bancorp during the first quarter worth $158,000. Burt Wealth Advisors increased 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 worth $193,000 after buying an additional 148 shares in the last quarter. Finally, Prudential Financial Inc. increased 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 worth $203,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 66.55% of the company’s stock.
Eagle Bancorp (NASDAQ: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 firm has a market capitalization of $2.10 billion, a P/E ratio of 20.03 and a beta of 0.70. The firm has a 50-day moving average price of $62.67 and a 200 day moving average price of $60.79.
Eagle Bancorp Company Profile
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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