Eagle Bancorp, Inc. to Issue Quarterly Dividend of $0.17 (NASDAQ:EGBN)

Eagle Bancorp, Inc. (NASDAQ:EGBN) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Friday, February 7th will be given a dividend of 0.165 per share by the financial services provider on Friday, February 21st. This represents a $0.66 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, February 7th.

Eagle Bancorp has increased its dividend payment by an average of 7.5% annually over the last three years. Eagle Bancorp has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Eagle Bancorp to earn $2.97 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 22.2%.

Eagle Bancorp Stock Up 0.7 %

Shares of NASDAQ EGBN opened at $25.46 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. Eagle Bancorp has a twelve month low of $15.99 and a twelve month high of $30.94. The stock has a fifty day simple moving average of $27.05 and a 200-day simple moving average of $24.25.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.69% and a negative net margin of 6.65%. As a group, sell-side analysts expect that Eagle Bancorp will post 2.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods raised their price objective on shares of Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

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.