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

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

Eagle Bancorp Stock Performance

Shares of NASDAQ:EGBN traded down $0.71 during trading on Friday, hitting $26.17. The stock had a trading volume of 347,000 shares, compared to its average volume of 322,990. The stock has a 50-day simple moving average of $22.43 and a two-hundred day simple moving average of $20.56. The stock has a market capitalization of $790.07 million, a price-to-earnings 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. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42.

Eagle Bancorp Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on EGBN. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Piper Sandler initiated coverage on Eagle Bancorp in a research note on Monday, October 21st. They set a “neutral” rating and a $27.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research 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.