Eagle Bancorp (NASDAQ:EGBN) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Eagle Bancorp (NASDAQ:EGBN) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.27, Yahoo Finance reports. The business had revenue of $180.76 million for the quarter, compared to analysts’ expectations of $80.31 million. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. During the same period in the prior year, the firm earned $0.91 EPS.

Eagle Bancorp Trading Down 2.6 %

NASDAQ:EGBN traded down $0.71 during midday trading on Friday, hitting $26.17. 347,000 shares of the company traded hands, compared to its average volume of 322,990. The firm’s fifty day moving average is $22.31 and its 200-day moving average is $20.54. Eagle Bancorp has a 12-month low of $15.99 and a 12-month high of $31.97. The firm has a market capitalization of $790.07 million, a P/E ratio of 10.43 and a beta of 1.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.42.

Eagle Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.66 annualized dividend and a yield of 2.52%. Eagle Bancorp’s payout ratio is presently 26.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EGBN. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Piper Sandler began coverage on Eagle Bancorp in a report on Monday. They set a “neutral” rating and a $27.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the stock 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.