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

Eagle Bancorp (NASDAQ:EGBN) issued its earnings results on Wednesday. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.27, Yahoo Finance reports. The firm had revenue of $180.76 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.91 earnings per share.

Eagle Bancorp Price Performance

NASDAQ EGBN traded down $0.71 on Friday, hitting $26.17. The company had a trading volume of 347,000 shares, compared to its average volume of 322,990. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.02 and a quick ratio of 1.02. The company’s fifty day moving average price is $22.43 and its 200-day moving average price is $20.56. The company has a market capitalization of $790.07 million, a PE ratio of 10.43 and a beta of 1.09. Eagle Bancorp has a 12-month low of $15.99 and a 12-month high of $31.97.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be given a dividend of $0.165 per share. The ex-dividend date is Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.52%. Eagle Bancorp’s dividend payout ratio (DPR) is 26.29%.

Wall Street Analysts Forecast Growth

EGBN has been the topic of several recent research reports. Piper Sandler assumed coverage on Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective on the stock. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

About Eagle Bancorp

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.