Eagle Bancorp (NASDAQ:EGBN) Releases Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Eagle Bancorp (NASDAQ:EGBN) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.34 by $0.45, FiscalAI reports. The business had revenue of $70.87 million for the quarter, compared to the consensus estimate of $71.78 million. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $28.53 on Thursday. The stock’s 50-day simple moving average is $28.05 and its 200 day simple moving average is $27.43. The stock has a market capitalization of $869.59 million, a price-to-earnings ratio of -22.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87. Eagle Bancorp has a 52-week low of $15.03 and a 52-week high of $29.29.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, November 6th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, November 6th. Eagle Bancorp’s payout ratio is presently -3.17%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EGBN. Piper Sandler lifted their price objective on Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Hovde Group began coverage on shares of Eagle Bancorp in a research report on Wednesday, October 7th. They set an “outperform” rating and a $37.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.00.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial banking institution headquartered in Bethesda, Maryland. Founded in 1998, EagleBank serves businesses, professional practices, nonprofit organizations and individual customers primarily in the Washington, DC, metropolitan region, including communities in Maryland and Northern Virginia.

EagleBank provides commercial and retail banking services, including business and personal checking and savings accounts, commercial real estate lending, construction financing, commercial and industrial loans, residential mortgages and other credit products.