Eagle Bancorp, Inc. (EGBN) Issues Earnings Results, Beats Estimates By $0.05 EPS
Eagle Bancorp, Inc. (NASDAQ:EGBN) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05, Bloomberg Earnings reports. Eagle Bancorp had a return on equity of 12.17% and a net margin of 31.79%. The company had revenue of $71.94 million during the quarter, compared to analyst estimates of $72.66 million. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis.
Shares of Eagle Bancorp (EGBN) opened at 67.45 on Thursday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 21.97 and a beta of 0.74. The firm’s 50-day moving average price is $64.95 and its 200 day moving average price is $61.88. Eagle Bancorp has a 52 week low of $47.20 and a 52 week high of $68.90.
In other news, CEO Ronald D. Paul sold 706 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $64.12, for a total transaction of $45,268.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Janice L. Williams sold 10,000 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $63.17, for a total value of $631,700.00. Following the transaction, the executive vice president now directly owns 73,490 shares in the company, valued at $4,642,363.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,209 shares of company stock worth $8,919,987. Insiders own 8.39% of the company’s stock.
A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a research report on Tuesday, October 3rd. BidaskClub lowered Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Eagle Bancorp from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $67.50.
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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