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Last $37.28 USD
Change Today -0.64 / -1.69%
Volume 89.2K
EGBN On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

eagle bancorp inc (EGBN) Key Developments

Eagle Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter Ended March 31, 2015

Eagle Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net interest income of $54.731 million compared to $40.007 million a year ago. Total interest income was $59.465 million against $42.837 million a year ago. Income before income tax expense was $31.152 million compared to $19.438 million a year ago. Net income was $19.418 million compared to $12.499 million a year ago. Net income available to common shareholders was $19.238 million or $0.61 per diluted share against $12.358 million or $0.47 per diluted share a year ago. Book value per common share was $20.11 compared to $13.62 at March 31, 2014. Tangible book value per common share was $16.82 compared to $13.49 at March 31, 2014. Driven by revenue growth and improved operating leverage, the return on average assets increased for the quarter to 1.49% compared to 1.36% a year ago. Return on average common equity was 13.24% compared to 14.38% a year ago. Revenue growth was driven by 37% growth in net interest income as compared to the first quarter of 2014. The strong level of net interest income is the result of pricing discipline and ALCO strategies as well as the continued growth in earning assets, which increased 38% over the same quarter of 2014. The company announced net charge-offs of $1.6 million in the first quarter of 2015 represented an annualized 0.15% of average loans, excluding loans held for sale, as compared to $837,000 or an annualized 0.11% of average loans, excluding loans held for sale, in the first quarter of 2014. Net charge-offs in the first quarter of 2015 were attributable primarily to commercial and industrial loans $947,000, home equity and other consumer $439,000, owner occupied-commercial real estate loans $317,000 offset by a recovery in land development and construction loans $95,000.

Eagle Bancorp, Inc. Proposes Amendment to the Articles of Incorporation

Eagle Bancorp, Inc. proposed to the AGM to be held on May 21, 2015, to approve an amendment to the company’s articles of incorporation to increase the number of authorized shares of common stock to 100,000,000.

Eagle Bancorp, Inc. to Report Q1, 2015 Results on Apr 22, 2015

Eagle Bancorp, Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Apr 22, 2015

Eagle Bancorp, Inc., Q1 2015 Earnings Call, Apr 23, 2015

Eagle Bancorp, Inc., Q1 2015 Earnings Call, Apr 23, 2015

Eagle Seeks Acquisition

Eagle Bancorp, Inc. (NasdaqCM:EGBN) is seeking acquisition. Eagle is hoping to raise more than $70 million by selling 1.9 million of its shares. Eagle will use the proceeds from the public offering of 1.9 million shares for general corporate purposes, support for organic growth, de novo branching, and potential opportunistic acquisitions, should appropriate opportunities arise.

 

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EGBN Competitors

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Company Last Change
Banner Corp $45.82 USD -0.49
S&T Bancorp Inc $27.64 USD +0.02
Simmons First National Corp $43.96 USD +0.27
WesBanco Inc $31.88 USD -0.04
Westamerica Bancorporation $43.41 USD -0.30
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Industry Analysis

EGBN

Industry Average

Valuation EGBN Industry Range
Price/Earnings 18.1x
Price/Sales 5.8x
Price/Book 1.9x
Price/Cash Flow 20.6x
TEV/Sales 3.1x
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