Kirby McInerney LLP Announces Investigation Against Eagle Bancorp, Inc. (EGBN) on Behalf of Investors
/EIN News/ -- NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Eagle Bancorp, Inc. (“Eagle” or the “Company”) (NASDAQ:EGBN). The investigation concerns whether Eagle and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[LEARN MORE ABOUT THE INVESTIGATION]
On April 23, 2025, Eagle issued a press release reporting its financial results for the first quarter of 2025. Among other items, Eagle reported net income of $1.7 million, or $0.06 per diluted share, compared to $15.3 million, or $0.50 per diluted share for the previous quarter. Eagle said that “[t]he $13.6 million decrease in net income from the prior quarter is primarily due to a $14.1 million increase in provision expense, a $5.1 million decline in net interest income, and a $0.9 million increase in noninterest expenses.” Eagle further stated that “[v]aluation risk in our office portfolio remains a concern and was the primary driver of the provision for credit losses.” On this news, the price of Eagle shares declined by $2.41 per share, from $21.19 per share on April 23, 2025, to close at $18.78 on April 24, 2025.
If you purchased or otherwise acquired Eagle securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
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