Eagle Bancorp (NASDAQ:EGBN) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Eagle Bancorp (NASDAQ:EGBN) released its earnings results on Wednesday. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.36 by $0.12, Zacks reports. The company had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $77.37 million. Eagle Bancorp had a negative return on equity of 10.93% and a negative net margin of 20.19%.

Eagle Bancorp Stock Performance

Eagle Bancorp stock traded down $0.58 during mid-day trading on Wednesday, reaching $26.88. The company’s stock had a trading volume of 327,128 shares, compared to its average volume of 350,654. The firm has a market cap of $816.08 million, a price-to-earnings ratio of -6.38 and a beta of 0.99. The business has a 50 day moving average price of $25.68 and a 200-day moving average price of $22.56. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a twelve month low of $15.03 and a twelve month high of $29.26.

Analyst Ratings Changes

EGBN has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. UBS Group set a $25.00 price objective on shares of Eagle Bancorp in a report on Tuesday, January 27th. Wall Street Zen raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research raised shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Finally, Raymond James Financial started coverage on shares of Eagle Bancorp in a report on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Institutional Investors Weigh In On Eagle Bancorp

Several large investors have recently added to or reduced their stakes in EGBN. Tower Research Capital LLC TRC increased its position in Eagle Bancorp by 113.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after buying an additional 2,172 shares during the period. Raymond James Financial Inc. acquired a new stake in Eagle Bancorp in the second quarter worth $99,000. iSAM Funds UK Ltd acquired a new stake in Eagle Bancorp in the third quarter worth $169,000. Kestra Advisory Services LLC acquired a new stake in Eagle Bancorp in the fourth quarter worth $174,000. Finally, Caption Management LLC acquired a new stake in Eagle Bancorp in the third quarter worth $202,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.