Eagle Bancorp (EGBN) Surpasses Q2 Earnings Estimates

Company Overview - Eagle Bancorp is expected to report quarterly earnings of $0.40 per share, reflecting a year-over-year decline of 21.6% [3] - The company posted quarterly earnings of $0.67 per share, exceeding the Zacks Consensus Estimate of $0.33 per share, but down from $0.94 per share a year ago [10] - Eagle Bancorp's revenues for the quarter ended June 2024 were $76.69 million, missing the Zacks Consensus Estimate by 5.21% and down from $80.41 million in the previous year [14] Earnings Performance - The company has surpassed consensus EPS estimates two times over the last four quarters [8] - The recent earnings report resulted in an earnings surprise of 103.03%, following a previous quarter where the company reported a loss of $0.01 against an expected $0.59 per share, leading to a surprise of -101.69% [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.41 on revenues of $83.8 million, and $1.03 on revenues of $327.7 million for the current fiscal year [6] - The estimate revisions trend for Eagle Bancorp is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [12] Industry Context - Eagle Bancorp operates within the Zacks Banks - Northeast industry, which is currently ranked in the top 27% of over 250 Zacks industries [9] - The industry has shown that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [9] Stock Performance - Eagle Bancorp shares have declined approximately 23.2% since the beginning of the year, contrasting with the S&P 500's gain of 16.5% [7]