Eagle Bancorp shares tumble to six-month low as co swung to loss

Eagle Bancorp

25/04/2024 18:31

** 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)