Eagle Bancorp (NASDAQ:EGBN) Announces Quarterly Earnings Results

Eagle Bancorp (NASDAQ:EGBN) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.11), FiscalAI reports. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.03%. The business had revenue of $73.11 million during the quarter, compared to the consensus estimate of $74.41 million.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $26.92 on Thursday. The firm has a market cap of $821.09 million, a price-to-earnings ratio of -7.10 and a beta of 0.96. Eagle Bancorp has a 52-week low of $15.03 and a 52-week high of $29.29. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $27.15 and its 200 day moving average is $26.01.

Eagle Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Thursday, August 6th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 6th. Eagle Bancorp’s dividend payout ratio (DPR) is presently -1.06%.

Institutional Trading of Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Eagle Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock valued at $369,000 after buying an additional 780 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Eagle Bancorp by 0.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 292,824 shares of the financial services provider’s stock worth $6,272,000 after buying an additional 1,689 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Eagle Bancorp by 113.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 2,172 shares during the period. California State Teachers Retirement System raised its position in Eagle Bancorp by 9.9% during the fourth quarter. California State Teachers Retirement System now owns 30,967 shares of the financial services provider’s stock valued at $663,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Eagle Bancorp by 20.8% during the second quarter. Cerity Partners LLC now owns 16,689 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 2,871 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EGBN. Raymond James Financial assumed coverage on Eagle Bancorp in a research report on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 target price for the company. Zacks Research downgraded shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a report on Friday, June 5th. Finally, Piper Sandler boosted their price objective on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eagle Bancorp presently has an average rating of “Hold” and an average price target of $29.00.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.