$0.83 Earnings Per Share Expected for Eagle Bancorp, Inc. (EGBN) This Quarter
Equities analysts predict that Eagle Bancorp, Inc. (NASDAQ:EGBN) will announce $0.83 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Eagle Bancorp’s earnings, with estimates ranging from $0.80 to $0.85. Eagle Bancorp posted earnings of $0.72 per share in the same quarter last year, which suggests a positive year over year growth rate of 15.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Eagle Bancorp will report full year earnings of $3.27 per share for the current year, with EPS estimates ranging from $3.21 to $3.32. For the next financial year, analysts anticipate that the business will post earnings of $3.56 per share, with EPS estimates ranging from $3.50 to $3.61. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. The company had revenue of $76.72 million for the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.71 EPS.
EGBN has been the subject of several recent research reports. FIG Partners upgraded shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price for the company in a research note on Monday, May 22nd. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday, June 8th. BidaskClub upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Eagle Bancorp currently has a consensus rating of “Hold” and a consensus target price of $66.50.
In other news, CEO Ronald D. Paul sold 7,791 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $63.50, for a total transaction of $494,728.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald D. Paul sold 706 shares of the stock in a transaction dated Tuesday, July 25th. The stock was 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. Insiders have sold 67,557 shares of company stock valued at $4,269,429 in the last quarter. Insiders own 8.39% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Eagle Bancorp by 5.4% in the second quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock valued at $159,766,000 after purchasing an additional 129,146 shares during the period. Wasatch Advisors Inc. lifted its position in Eagle Bancorp by 19.4% in the second quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock valued at $136,332,000 after purchasing an additional 350,204 shares during the period. BlackRock Inc. lifted its position in Eagle Bancorp by 5.3% in the second quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock valued at $130,506,000 after purchasing an additional 103,343 shares during the period. Victory Capital Management Inc. lifted its position in Eagle Bancorp by 1.9% in the second quarter. Victory Capital Management Inc. now owns 1,320,262 shares of the financial services provider’s stock valued at $83,573,000 after purchasing an additional 25,022 shares during the period. Finally, Jennison Associates LLC lifted its position in Eagle Bancorp by 23.5% in the second quarter. Jennison Associates LLC now owns 1,044,733 shares of the financial services provider’s stock valued at $66,132,000 after purchasing an additional 198,608 shares during the period. Institutional investors and hedge funds own 68.17% of the company’s stock.
Shares of Eagle Bancorp (EGBN) traded up 0.87% during trading on Friday, reaching $63.60. The company’s stock had a trading volume of 243,399 shares. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 20.72 and a beta of 0.72. The company has a 50 day moving average of $62.21 and a 200-day moving average of $60.87. Eagle Bancorp has a 12-month low of $47.20 and a 12-month high of $65.00.
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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