Eagle Bancorp, Inc. to Post FY2017 Earnings of $3.31 Per Share, Boenning Scattergood Forecasts (EGBN)
Eagle Bancorp, Inc. (NASDAQ:EGBN) – Boenning Scattergood boosted their FY2017 earnings per share (EPS) estimates for Eagle Bancorp in a research note issued on Thursday. Boenning Scattergood analyst M. Schultheis now forecasts that the financial services provider will post earnings of $3.31 per share for the year, up from their prior estimate of $3.21. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Eagle Bancorp’s Q4 2017 earnings at $0.84 EPS, Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.89 EPS, Q4 2018 earnings at $0.92 EPS, FY2018 earnings at $3.55 EPS and FY2019 earnings at $3.90 EPS.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a return on equity of 12.59% and a net margin of 32.40%. The business had revenue of $71.94 million during the quarter, compared to the consensus estimate of $72.66 million. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, August 22nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a report on Tuesday, October 3rd. Finally, BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $67.50.
Shares of Eagle Bancorp (EGBN) traded up 0.59% during trading on Friday, hitting $67.90. The stock had a trading volume of 52,789 shares. The company has a market cap of $2.32 billion, a P/E ratio of 22.12 and a beta of 0.74. Eagle Bancorp has a one year low of $47.20 and a one year high of $68.90. The stock’s 50-day moving average price is $65.12 and its 200-day moving average price is $61.92.
In other news, EVP Antonio F. Marquez sold 2,200 shares of Eagle Bancorp stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $63.04, for a total value of $138,688.00. Following the completion of the transaction, the executive vice president now owns 20,273 shares in the company, valued at approximately $1,278,009.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ronald D. Paul sold 3,140 shares of Eagle Bancorp stock in a transaction that occurred on Monday, September 11th. The stock was 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 quarter, insiders sold 129,209 shares of company stock valued at $8,288,287. Insiders own 8.39% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of EGBN. Prudential Financial Inc. boosted its position in Eagle Bancorp by 0.3% during the 1st quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 10 shares during the period. Alps Advisors Inc. boosted its position in Eagle Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,889 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 21 shares during the period. First National Bank of Hutchinson boosted its position in Eagle Bancorp by 0.3% during the 2nd quarter. First National Bank of Hutchinson now owns 10,224 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 32 shares during the period. Trillium Asset Management LLC boosted its position in Eagle Bancorp by 0.3% during the 2nd quarter. Trillium Asset Management LLC now owns 18,185 shares of the financial services provider’s stock valued at $1,151,000 after purchasing an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Eagle Bancorp by 1.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,751 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 100 shares during the period. Institutional investors own 68.07% 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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