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

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

Eagle Bancorp Trading Down 2.6 %

Shares of NASDAQ:EGBN traded down $0.71 during trading on Friday, reaching $26.17. The stock had a trading volume of 347,000 shares, compared to its average volume of 322,990. The firm’s fifty day moving average is $22.43 and its 200 day moving average is $20.56. Eagle Bancorp has a 52 week low of $15.99 and a 52 week high of $31.97. 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 stock 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 declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be given a $0.165 dividend. The ex-dividend date is Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.52%. Eagle Bancorp’s dividend payout ratio (DPR) is currently 26.29%.

Analyst Ratings Changes

EGBN has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Piper Sandler began coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective on the stock.

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.