Equities analysts forecast that Eagle Bancorp, Inc. (NASDAQ:EGBN) will announce sales of $81.18 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Eagle Bancorp’s earnings. The highest sales estimate is $81.56 million and the lowest is $80.80 million. Eagle Bancorp reported sales of $74.04 million during the same quarter last year, which suggests a positive year over year growth rate of 9.6%. The company is expected to announce its next earnings results on Wednesday, January 17th.
According to Zacks, analysts expect that Eagle Bancorp will report full year sales of $81.18 million for the current fiscal year, with estimates ranging from $309.10 million to $309.96 million. For the next fiscal year, analysts forecast that the business will report sales of $345.37 million per share, with estimates ranging from $339.90 million to $350.83 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. The company had revenue of $71.94 million for the quarter, compared to analyst estimates of $72.66 million. During the same quarter last year, the business earned $0.72 earnings per share. Eagle Bancorp’s revenue was up 11.1% compared to the same quarter last year.
Several research analysts have recently issued reports on EGBN shares. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Friday, October 20th. Boenning Scattergood reiterated a “buy” rating on shares of Eagle Bancorp in a report on Thursday, October 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $64.00 price objective on shares of Eagle Bancorp in a report on Tuesday, October 3rd. Finally, BidaskClub cut shares of Eagle Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Eagle Bancorp currently has a consensus rating of “Hold” and a consensus price target of $68.50.
Eagle Bancorp (NASDAQ EGBN) remained flat at $$67.10 during trading on Wednesday. 58,490 shares of the company traded hands, compared to its average volume of 111,939. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $2,300.00, a P/E ratio of 20.81 and a beta of 0.90. Eagle Bancorp has a 52 week low of $53.80 and a 52 week high of $68.90.
In related news, CEO Ronald D. Paul sold 1,209 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.33, for a total transaction of $75,356.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Janice L. Williams sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $63.32, for a total transaction of $633,200.00. Following the sale, the executive vice president now owns 64,940 shares of the company’s stock, valued at $4,112,000.80. The disclosure for this sale can be found here. Insiders have sold 166,262 shares of company stock valued at $10,786,581 over the last 90 days. 8.39% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Eagle Bancorp by 5.4% during the second quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock worth $159,766,000 after buying an additional 129,146 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in Eagle Bancorp by 1.5% in the 3rd quarter. Wasatch Advisors Inc. now owns 2,185,154 shares of the financial services provider’s stock worth $146,515,000 after purchasing an additional 31,414 shares during the period. BlackRock Inc. boosted its stake in Eagle Bancorp by 5.3% in the 2nd quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock worth $130,506,000 after purchasing an additional 103,343 shares during the period. Victory Capital Management Inc. boosted its stake in Eagle Bancorp by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,386,541 shares of the financial services provider’s stock worth $92,968,000 after purchasing an additional 66,279 shares during the period. Finally, Jennison Associates LLC boosted its stake in Eagle Bancorp by 23.7% in the 3rd quarter. Jennison Associates LLC now owns 1,291,987 shares of the financial services provider’s stock worth $86,628,000 after purchasing an additional 247,254 shares during the period. Hedge funds and other institutional investors own 68.95% of the company’s stock.
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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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