Zacks: Analysts Expect Eagle Bancorp, Inc. (EGBN) to Announce $0.87 Earnings Per Share
Brokerages forecast that Eagle Bancorp, Inc. (NASDAQ:EGBN) will report $0.87 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Eagle Bancorp’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.89. Eagle Bancorp posted earnings per share of $0.75 during the same quarter last year, which would suggest a positive year-over-year growth rate of 16%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 17th.
According to Zacks, analysts expect that Eagle Bancorp will report full year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.22 to $3.36. For the next year, analysts expect that the business will report earnings of $3.58 per share, with EPS estimates ranging from $3.54 to $3.64. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. The company had revenue of $71.94 million during the quarter, compared to analyst estimates of $72.66 million. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.59%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS.
EGBN has been the subject of several research analyst reports. Zacks Investment Research cut Eagle Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Keefe, Bruyette & Woods restated a “neutral” rating on shares of Eagle Bancorp in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $68.50.
In related news, CEO Ronald D. Paul sold 28,140 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $65.62, for a total transaction of $1,846,546.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ronald D. Paul sold 3,140 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $62.19, for a total value of $195,276.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,303 shares of company stock worth $8,104,330. Corporate insiders own 8.39% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Eagle Bancorp by 158.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 1,162 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Eagle Bancorp during the first quarter valued at $124,000. Prudential Financial Inc. boosted its stake in shares of Eagle Bancorp by 0.3% during the first quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 10 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Eagle Bancorp by 49.9% during the second quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 1,177 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Eagle Bancorp by 7.5% during the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 283 shares during the last quarter. 68.07% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Eagle Bancorp (NASDAQ:EGBN) opened at 67.40 on Tuesday. The company has a 50-day moving average of $65.42 and a 200 day moving average of $62.11. Eagle Bancorp has a one year low of $47.20 and a one year high of $68.90. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 21.95 and a beta of 0.74.
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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