$80.18 Million in Sales Expected for Eagle Bancorp, Inc. (EGBN) This Quarter
Wall Street brokerages forecast that Eagle Bancorp, Inc. (NASDAQ:EGBN) will announce $80.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Eagle Bancorp’s earnings. The highest sales estimate is $80.85 million and the lowest is $79.50 million. Eagle Bancorp reported sales of $71.13 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The firm is scheduled to report its next earnings report on Wednesday, October 18th.
On average, analysts expect that Eagle Bancorp will report full year sales of $80.18 million for the current financial year, with estimates ranging from $310.50 million to $313.16 million. For the next fiscal year, analysts anticipate that the business will report sales of $350.74 million per share, with estimates ranging from $344.30 million to $357.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $75.41 million. Eagle Bancorp had a return on equity of 12.17% and a net margin of 31.79%. During the same quarter last year, the firm posted $0.71 earnings per share.
A number of research firms have weighed in on EGBN. BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research downgraded Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, FIG Partners upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $66.50.
In related news, CEO Ronald D. Paul sold 7,791 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $63.50, for a total value of $494,728.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald D. Paul sold 706 shares of the company’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 value of $45,268.72. The disclosure for this sale can be found here. Insiders sold a total of 67,557 shares of company stock worth $4,269,429 in the last 90 days. 8.39% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Eagle Bancorp by 158.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,162 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Eagle Bancorp in the 1st quarter worth approximately $124,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Eagle Bancorp in the 1st quarter worth approximately $158,000. Prudential Financial Inc. grew its stake in shares of Eagle Bancorp by 0.3% in the 1st quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock worth $203,000 after buying an additional 10 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Eagle Bancorp by 49.9% in the 2nd quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock worth $223,000 after buying an additional 1,177 shares during the last quarter. Institutional investors own 68.05% of the company’s stock.
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Eagle Bancorp (NASDAQ:EGBN) opened at 63.60 on Monday. Eagle Bancorp has a one year low of $47.20 and a one year high of $65.00. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 20.72 and a beta of 0.72. The firm has a 50-day moving average price of $62.21 and a 200 day moving average price of $60.87.
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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