Eagle Bancorp (NASDAQ:EGBN) Issues Earnings Results

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

Eagle Bancorp Stock Down 2.6 %

Shares of EGBN traded down $0.71 on Friday, hitting $26.17. The company’s stock had a trading volume of 346,997 shares, compared to its average volume of 322,990. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. The firm’s fifty day moving average price is $22.31 and its 200-day moving average price is $20.54. Eagle Bancorp has a fifty-two week low of $15.99 and a fifty-two week high of $31.97. The firm has a market capitalization of $790.07 million, a price-to-earnings ratio of 10.71 and a beta of 1.09.

Eagle Bancorp Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on EGBN. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods raised their target price on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Piper Sandler began coverage on Eagle Bancorp in a report on Monday. They set a “neutral” rating and a $27.00 target price on the stock.

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.