Eagle Bancorp (NASDAQ:EGBN) Issues Earnings Results

Eagle Bancorp (NASDAQ:EGBN) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $80.31 million. During the same quarter in the previous year, the company posted $0.91 earnings per share.

Eagle Bancorp Trading Down 2.6 %

EGBN traded down $0.71 on Friday, hitting $26.17. 347,000 shares of the company were exchanged, compared to its average volume of 322,990. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day simple moving average of $22.31 and a two-hundred day simple moving average of $20.54. The stock 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 business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a 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%.

Analyst Ratings Changes

A number of brokerages recently weighed in on EGBN. Keefe, Bruyette & Woods raised their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, July 29th. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Piper Sandler started coverage on shares of Eagle Bancorp in a research note on Monday. They issued a “neutral” rating and a $27.00 price objective for the company.

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.