Eagle Bancorp, Inc. (NASDAQ:EGBN) Expected to Post Quarterly Sales of $87.21 Million

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Equities analysts expect Eagle Bancorp, Inc. (NASDAQ:EGBN) to post sales of $87.21 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Eagle Bancorp’s earnings, with estimates ranging from $86.52 million to $87.70 million. Eagle Bancorp posted sales of $86.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 16th.

On average, analysts expect that Eagle Bancorp will report full year sales of $350.70 million for the current year, with estimates ranging from $348.80 million to $355.10 million. For the next financial year, analysts anticipate that the company will report sales of $368.77 million, with estimates ranging from $359.59 million to $386.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Eagle Bancorp.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.05). Eagle Bancorp had a return on equity of 13.77% and a net margin of 33.71%. The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $82.37 million. During the same quarter in the previous year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.

A number of research analysts have recently commented on the company. TheStreet downgraded Eagle Bancorp from a “b-” rating to a “c” rating in a research report on Monday, July 29th. Zacks Investment Research downgraded Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. BidaskClub upgraded Eagle Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. ValuEngine downgraded Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 18th. Finally, Sandler O’Neill reiterated a “hold” rating on shares of Eagle Bancorp in a research report on Thursday, July 18th. Two 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 has an average rating of “Hold” and a consensus price target of $54.20.

In related news, EVP Antonio F. Marquez sold 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $41.79, for a total value of $104,475.00. Following the completion of the sale, the executive vice president now directly owns 27,799 shares in the company, valued at $1,161,720.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.25% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zions Bancorporation N.A. lifted its position in Eagle Bancorp by 5.5% in the second quarter. Zions Bancorporation N.A. now owns 3,729 shares of the financial services provider’s stock worth $202,000 after buying an additional 194 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Eagle Bancorp by 1.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 12,439 shares of the financial services provider’s stock worth $673,000 after buying an additional 200 shares during the last quarter. Aperio Group LLC lifted its position in Eagle Bancorp by 3.9% in the second quarter. Aperio Group LLC now owns 7,420 shares of the financial services provider’s stock worth $402,000 after buying an additional 280 shares during the last quarter. Mason Street Advisors LLC lifted its position in Eagle Bancorp by 3.6% in the first quarter. Mason Street Advisors LLC now owns 10,169 shares of the financial services provider’s stock worth $510,000 after buying an additional 355 shares during the last quarter. Finally, Comerica Bank lifted its position in Eagle Bancorp by 1.4% in the first quarter. Comerica Bank now owns 31,231 shares of the financial services provider’s stock worth $1,665,000 after buying an additional 417 shares during the last quarter. Institutional investors own 74.63% of the company’s stock.

Shares of NASDAQ EGBN traded down $0.01 during midday trading on Tuesday, reaching $44.31. 297,553 shares of the stock traded hands, compared to its average volume of 212,063. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.04. The stock has a market capitalization of $1.53 billion, a PE ratio of 10.02, a P/E/G ratio of 1.49 and a beta of 0.90. Eagle Bancorp has a one year low of $37.08 and a one year high of $60.77. The company’s 50 day moving average is $40.90 and its 200 day moving average is $50.04.

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.

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

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