Eagle Bancorp, Inc. (NASDAQ:EGBN) Expected to Report Quarterly Sales of $86.29 Million
Equity research analysts expect Eagle Bancorp, Inc. (NASDAQ:EGBN – Get a rating) to report sales of $86.29 million for the current quarter, Zacks reports. Four analysts have made estimates of Eagle Bancorp’s earnings, with estimates ranging from $85.10 million to $87.40 million. Eagle Bancorp reported sales of $93.24 million in the same quarter last year, suggesting a negative 7.5% year-over-year growth rate. The company is due to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Eagle Bancorp to report annual sales of $358.12 million for the current fiscal year, with estimates ranging from $350.30 million to $363.69 million. . For the next fiscal year, analysts expect the company to post sales of $385.20 million, with estimates ranging from $370.90 to $391.50 million. Zacks sales averages are an average based on a survey of research analysts who follow Eagle Bancorp.
Eagle Bancorp (NASDAQ:EGBN – Get a rating) last released its quarterly earnings data on Wednesday, January 19. The financial services provider reported EPS of $1.30 for the quarter, beating the consensus estimate of $1.18 by $0.12. The company posted revenue of $88.76 million in the quarter, versus a consensus estimate of $88.31 million. Eagle Bancorp had a net margin of 43.64% and a return on equity of 13.46%. In the same quarter of the previous year, the company achieved EPS of $1.21.
Several analysts have recently released reports on EGBN shares. StockNews.com began covering Eagle Bancorp shares in a research report on Thursday. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a target price of $66.00 on the stock in a Tuesday, March 22 research report.
Shares of NASDAQ EGBN opened at $57.01 on Friday. The company’s 50-day moving average price is $59.27 and its 200-day moving average price is $58.45. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt ratio of 0.05. The stock has a market capitalization of $1.82 billion, a price-earnings ratio of 10.33 and a beta of 0.99. Eagle Bancorp has a 12-month low of $50.92 and a 12-month high of $63.84.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 29. Investors of record on Monday, April 11 will receive a dividend of $0.40. This represents a dividend of $1.60 on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, April 8. Eagle Bancorp’s dividend payout ratio (DPR) is currently 28.99%.
A number of institutional investors have recently bought and sold shares of EGBN. Norges Bank bought a new stake in Eagle Bancorp in Q4 for a value of approximately $25,436,000. Millennium Management LLC increased its position in Eagle Bancorp by 357.9% in the fourth quarter. Millennium Management LLC now owns 165,206 shares of the financial services provider worth $9,638,000 after purchasing an additional 129,126 shares during the period. Victory Capital Management Inc. increased its position in Eagle Bancorp by 5.8% in the third quarter. Victory Capital Management Inc. now owns 1,463,856 shares of the financial services provider worth $84,172,000 after purchasing an additional 80,195 shares during the period. JPMorgan Chase & Co. raised its position in Eagle Bancorp by 60.6% in the fourth quarter. JPMorgan Chase & Co. now owns 158,591 shares of the financial services provider worth $9,252,000 after purchasing an additional 59,870 shares during the period. Finally, Geode Capital Management LLC increased its position in Eagle Bancorp shares by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 548,878 shares of the financial services provider worth $32,021,000 after acquiring an additional 48,783 shares during the period. 72.77% of the shares are currently held by institutional investors.
About Eagle Bancorp (Get a rating)
Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various consumer and commercial loan products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.
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