Eagle Bancorp (EGBN) Issues Quarterly Earnings Results

Eagle Bancorp (NASDAQ:EGBN) posted its earnings results on Wednesday. The financial services provider reported $1.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08, Bloomberg Earnings reports. Eagle Bancorp had a net margin of 29.77% and a return on equity of 13.10%. The firm had revenue of $83.80 million during the quarter, compared to the consensus estimate of $77.84 million. During the same period last year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis.

EGBN opened at $60.15 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. Eagle Bancorp has a 1 year low of $46.20 and a 1 year high of $69.80. The company has a market capitalization of $2.05 billion, a P/E ratio of 17.96 and a beta of 0.86.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA boosted 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 worth $125,000 after acquiring an additional 1,944 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Eagle Bancorp in the first quarter worth approximately $133,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Eagle Bancorp in the first quarter worth approximately $152,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Eagle Bancorp in the first quarter worth approximately $155,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Eagle Bancorp in the first quarter worth approximately $161,000. 69.53% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have weighed in on EGBN shares. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Wednesday, June 20th. Boenning Scattergood reiterated a “buy” rating and set a $72.25 price target on shares of Eagle Bancorp in a report on Wednesday, March 28th. BidaskClub downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Finally, ValuEngine upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.31.

Eagle Bancorp Company Profile

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.

Further Reading: Book Value Per Share – BVPS

Earnings History 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