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Market News

BUZZ-Eagle Bancorp shares tumble to six-month low as co swung to loss
25-Apr-24 13:31

    ** Shares of lender Eagle Bancorp EGBN.O fall 12% to

$19.57 in afternoon trading

    ** Stock eyes worst day in nearly six months at current

levels

    ** Co reported on Wednesday a net loss of $338 thousand in

Q1 vs a $24.2 mln profit a year ago, while analysts expected

$17.7 mln profit, according to LSEG data

    ** EGBN built $35.2 mln in provisions in Q1, up from $6.2

mln last year, due to charge-offs tied to commercial real estate

(CRE) loans

    ** Including session losses, stock down 35% YTD

(Reporting by Mehnaz Yasmin)

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