Eagle Bancorp, Inc. (NASDAQ:EGBN) Declares $0.17 Quarterly Dividend

Eagle Bancorp, Inc. (NASDAQ:EGBN) declared a quarterly dividend on Monday, September 30th, Wall Street Journal reports. Shareholders of record on Monday, October 21st will be given a dividend of 0.165 per share by the financial services provider on Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Monday, October 21st.

Eagle Bancorp has raised its dividend by an average of 26.9% per year over the last three years. Eagle Bancorp has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Eagle Bancorp to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 35.7%.

Eagle Bancorp Stock Performance

NASDAQ EGBN opened at $24.45 on Friday. The stock has a market cap of $738.15 million, a PE ratio of 9.74 and a beta of 1.09. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day moving average of $21.83 and a 200-day moving average of $20.47. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The firm had revenue of $175.06 million during the quarter, compared to the consensus estimate of $80.90 million. During the same period last year, the business posted $0.94 earnings per share. On average, sell-side analysts anticipate that Eagle Bancorp will post 1.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.