Eagle Bancorp, Inc. (EGBN) Expected to Post Quarterly Sales of $85.67 Million

Analysts expect that Eagle Bancorp, Inc. (NASDAQ:EGBN) will announce $85.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Eagle Bancorp’s earnings, with estimates ranging from $85.04 million to $86.30 million. Eagle Bancorp posted sales of $78.72 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.8%. The business is expected to announce its next quarterly earnings results on Wednesday, October 17th.

On average, analysts expect that Eagle Bancorp will report full-year sales of $338.35 million for the current financial year, with estimates ranging from $335.95 million to $339.90 million. For the next financial year, analysts anticipate that the company will post sales of $369.08 million per share, with estimates ranging from $361.84 million to $373.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Eagle Bancorp.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.08. Eagle Bancorp had a return on equity of 13.67% and a net margin of 31.06%. The business had revenue of $83.80 million during the quarter, compared to analyst estimates of $77.84 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year.

EGBN has been the subject of a number of analyst reports. ValuEngine lowered Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, June 11th. Zacks Investment Research raised shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Wednesday, June 20th. Boenning Scattergood reissued a “buy” rating on shares of Eagle Bancorp in a report on Thursday, July 19th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $65.00 price target on shares of Eagle Bancorp in a report on Friday, July 20th. Finally, BidaskClub downgraded shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 20th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $69.85.

NASDAQ:EGBN traded down $0.85 during midday trading on Friday, reaching $52.45. 4,237 shares of the company traded hands, compared to its average volume of 121,183. Eagle Bancorp has a twelve month low of $46.20 and a twelve month high of $69.80. The firm has a market capitalization of $1.83 billion, a P/E ratio of 15.91 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 1.04.

Several institutional investors have recently bought and sold shares of the company. Federated Investors Inc. PA increased its position in shares of Eagle Bancorp by 1,398.6% in the first quarter. Federated Investors Inc. PA now owns 2,083 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,944 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Eagle Bancorp during the 1st quarter valued at about $133,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Eagle Bancorp during the 1st quarter valued at about $152,000. Rockefeller Capital Management L.P. bought a new stake in shares of Eagle Bancorp during the 1st quarter valued at about $155,000. Finally, SG Americas Securities LLC bought a new stake in shares of Eagle Bancorp during the 1st quarter valued at about $161,000. Hedge funds and other institutional investors own 69.47% of the company’s stock.

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.

Featured Story: Outstanding Shares, Buying and Selling Stocks

Get a free copy of the Zacks research report on Eagle Bancorp (EGBN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.

Leave a Reply