Equities Analysts Offer Predictions for Eagle Bancorp, Inc.’s FY2017 Earnings (EGBN)
Eagle Bancorp, Inc. (NASDAQ:EGBN) – FIG Partners raised their FY2017 earnings per share estimates for Eagle Bancorp in a report released on Thursday. FIG Partners analyst D. Bishop now expects that the financial services provider will post earnings of $3.36 per share for the year, up from their prior estimate of $3.32. FIG Partners also issued estimates for Eagle Bancorp’s Q4 2017 earnings at $0.89 EPS, Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $0.90 EPS, FY2018 earnings at $3.64 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.99 EPS, Q3 2019 earnings at $1.03 EPS and FY2019 earnings at $4.02 EPS.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.59%. The firm had revenue of $71.94 million for the quarter, compared to the consensus estimate of $72.66 million. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis.
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Several other analysts also recently commented on EGBN. BidaskClub upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $64.00 price target on shares of Eagle Bancorp in a research note on Tuesday, October 3rd. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Eagle Bancorp in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $68.50.
Eagle Bancorp (NASDAQ EGBN) opened at 67.70 on Monday. Eagle Bancorp has a 12 month low of $47.20 and a 12 month high of $68.90. The company’s 50-day moving average is $65.27 and its 200-day moving average is $61.99. The stock has a market capitalization of $2.31 billion, a P/E ratio of 22.05 and a beta of 0.74.
In other news, CEO Ronald D. Paul sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $64.40, for a total transaction of $51,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ronald D. Paul sold 706 shares of the firm’s stock in a transaction that occurred on 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 a total of 127,009 shares of company stock valued at $8,149,599 over the last ninety days. Company insiders own 8.39% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Eagle Bancorp by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 794,108 shares of the financial services provider’s stock worth $47,409,000 after acquiring an additional 33,046 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Eagle Bancorp by 23.5% during the 2nd quarter. Jennison Associates LLC now owns 1,044,733 shares of the financial services provider’s stock worth $66,132,000 after acquiring an additional 198,608 shares in the last quarter. John W. Rosenthal Capital Management Inc. grew its stake in shares of Eagle Bancorp by 3.0% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 115,088 shares of the financial services provider’s stock worth $7,285,000 after acquiring an additional 3,300 shares in the last quarter. Glassman Wealth Services grew its stake in shares of Eagle Bancorp by 4.4% during the 2nd quarter. Glassman Wealth Services now owns 44,688 shares of the financial services provider’s stock worth $2,829,000 after acquiring an additional 1,878 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Eagle Bancorp during the 2nd quarter worth approximately $1,314,000. 68.07% of the stock is owned by institutional investors.
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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