Eagle Bancorp (NASDAQ:EGBN) Announces Earnings Results

Eagle Bancorp (NASDAQ:EGBN) posted its earnings results on Wednesday. The financial services provider reported $0.72 EPS for the quarter, topping 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 firm had revenue of $180.76 million during the quarter, compared to analysts’ expectations of $80.31 million. During the same quarter in the prior year, the firm earned $0.91 EPS.

Eagle Bancorp Price Performance

NASDAQ EGBN traded down $0.71 on Friday, reaching $26.17. 346,997 shares of the stock traded hands, compared to its average volume of 322,990. 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. The firm’s fifty day simple moving average is $22.31 and its 200 day simple moving average is $20.54. The company has a market cap of $790.07 million, a price-to-earnings ratio of 10.43 and a beta of 1.09.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis and a yield of 2.52%. Eagle Bancorp’s dividend payout ratio (DPR) is 26.29%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EGBN shares. Piper Sandler initiated coverage on Eagle Bancorp in a research report on Monday. They set a “neutral” rating and a $27.00 price objective for the company. Keefe, Bruyette & Woods increased their price target on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

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.