Eagle Bancorp, Inc. (EGBN) Expected to Post Earnings of $0.83 Per Share

Equities analysts expect that Eagle Bancorp, Inc. (NASDAQ:EGBN) will post earnings per share of $0.83 for the current quarter, according to Zacks. Two analysts have made estimates for Eagle Bancorp’s earnings. The highest EPS estimate is $0.85 and the lowest is $0.80. Eagle Bancorp reported earnings per share of $0.72 during the same quarter last year, which would indicate a positive year over year growth rate of 15.3%. The business is expected to announce its next quarterly earnings results on Wednesday, October 18th.

According to Zacks, analysts expect that Eagle Bancorp will report full year earnings of $3.22 per share for the current financial year, with EPS estimates ranging from $3.21 to $3.22. For the next financial year, analysts expect that the firm will post earnings of $3.56 per share, with EPS estimates ranging from $3.50 to $3.61. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Eagle Bancorp.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. The firm had revenue of $76.72 million for the quarter, compared to the consensus estimate of $75.41 million. Eagle Bancorp had a return on equity of 12.39% and a net margin of 31.79%. During the same quarter in the prior year, the business posted $0.71 earnings per share.

EGBN has been the topic of a number of analyst reports. FIG Partners upgraded shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a research note on Monday, May 22nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research note on Wednesday, April 5th. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Monday, May 15th. Finally, BidaskClub upgraded shares of Eagle Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.75.

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Eagle Bancorp (EGBN) traded down 0.16% during midday trading on Friday, hitting $63.10. The company’s stock had a trading volume of 78,165 shares. Eagle Bancorp has a 12 month low of $47.20 and a 12 month high of $65.00. The company’s 50 day moving average price is $62.13 and its 200 day moving average price is $60.47. The firm has a market cap of $2.16 billion, a P/E ratio of 20.55 and a beta of 0.71.

In other news, EVP Antonio F. Marquez sold 2,200 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $63.04, for a total value of $138,688.00. Following the sale, the executive vice president now directly owns 20,273 shares in the company, valued at approximately $1,278,009.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Janice L. Williams sold 10,000 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $63.17, for a total transaction of $631,700.00. Following the completion of the sale, the executive vice president now 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 90 days, insiders sold 32,218 shares of company stock worth $2,028,829. Insiders own 8.39% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Eagle Bancorp during the fourth quarter valued at approximately $14,529,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Eagle Bancorp by 26.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 119,802 shares of the financial services provider’s stock valued at $7,152,000 after buying an additional 25,267 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Eagle Bancorp by 11.2% in the fourth quarter. Teachers Advisors LLC now owns 57,057 shares of the financial services provider’s stock valued at $3,478,000 after buying an additional 5,737 shares during the last quarter. Kalmar Investments Inc. DE purchased a new position in shares of Eagle Bancorp during the first quarter valued at approximately $2,070,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Eagle Bancorp during the first quarter valued at approximately $531,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

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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Earnings History and Estimates for Eagle Bancorp (NASDAQ:EGBN)

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