Wall Street brokerages predict that Eagle Bancorp, Inc. (NASDAQ:EGBN) will announce earnings per share (EPS) of $1.05 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Eagle Bancorp’s earnings, with estimates ranging from $1.04 to $1.06. Eagle Bancorp reported earnings per share of $1.13 during the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, October 16th.
According to Zacks, analysts expect that Eagle Bancorp will report full year earnings of $4.17 per share for the current financial year, with EPS estimates ranging from $4.13 to $4.22. For the next financial year, analysts forecast that the business will report earnings of $4.41 per share, with EPS estimates ranging from $4.01 to $4.80. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.05). The business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $82.37 million. Eagle Bancorp had a net margin of 33.71% and a return on equity of 13.77%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS.
Several analysts recently weighed in on the company. ValuEngine downgraded Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. Boenning Scattergood reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Eagle Bancorp in a research report on Sunday, July 21st. Piper Jaffray Companies cut Eagle Bancorp from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $63.00 to $47.00 in a research report on Friday, July 19th. BidaskClub raised Eagle Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research cut Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.20.
In other news, EVP Antonio F. Marquez sold 2,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $41.79, for a total transaction of $104,475.00. Following the transaction, the executive vice president now directly owns 27,799 shares of the company’s stock, valued at approximately $1,161,720.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.25% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Eagle Bancorp by 3.5% in the 2nd quarter. BlackRock Inc. now owns 4,830,633 shares of the financial services provider’s stock worth $261,481,000 after purchasing an additional 163,889 shares during the period. Wasatch Advisors Inc. raised its holdings in Eagle Bancorp by 0.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,249,555 shares of the financial services provider’s stock worth $175,898,000 after purchasing an additional 23,322 shares during the period. Northern Trust Corp raised its holdings in Eagle Bancorp by 19.1% in the 2nd quarter. Northern Trust Corp now owns 503,581 shares of the financial services provider’s stock worth $27,259,000 after purchasing an additional 80,785 shares during the period. Bank of New York Mellon Corp raised its holdings in Eagle Bancorp by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 407,034 shares of the financial services provider’s stock worth $22,033,000 after purchasing an additional 23,592 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Eagle Bancorp by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 359,231 shares of the financial services provider’s stock worth $17,498,000 after purchasing an additional 19,912 shares during the period. 74.63% of the stock is currently owned by institutional investors.
Shares of EGBN stock traded down $0.01 during midday trading on Friday, reaching $44.31. 297,553 shares of the stock were exchanged, compared to its average volume of 212,063. Eagle Bancorp has a 1 year low of $37.08 and a 1 year high of $60.77. The company’s 50 day moving average is $40.90 and its two-hundred day moving average is $50.04. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.53 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.
About Eagle Bancorp
Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eagle Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.