Eagle Bancorp (NASDAQ:EGBN) Announces Earnings Results

Eagle Bancorp (NASDAQ:EGBN) released its earnings results on Wednesday. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.36 by $0.12, Zacks reports. The company had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $77.37 million. Eagle Bancorp had a negative return on equity of 10.93% and a negative net margin of 20.19%.

Eagle Bancorp Stock Down 2.1%

NASDAQ:EGBN opened at $26.88 on Thursday. The company has a market cap of $816.16 million, a PE ratio of -6.38 and a beta of 0.99. Eagle Bancorp has a 52-week low of $15.03 and a 52-week high of $29.26. The stock has a 50-day simple moving average of $25.69 and a 200 day simple moving average of $22.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87.

Eagle Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, May 4th. Eagle Bancorp’s dividend payout ratio is currently -0.95%.

Institutional Trading of Eagle Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in shares of Eagle Bancorp by 113.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 2,172 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Eagle Bancorp during the 2nd quarter worth about $99,000. iSAM Funds UK Ltd bought a new stake in shares of Eagle Bancorp during the third quarter worth approximately $169,000. Kestra Advisory Services LLC bought a new stake in Eagle Bancorp in the 4th quarter valued at $174,000. Finally, Caption Management LLC acquired a new position in shares of Eagle Bancorp in the third quarter valued at about $202,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Wall Street Analysts Forecast Growth

EGBN has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. Piper Sandler raised their target price on shares of Eagle Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Zacks Research upgraded shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Wall Street Zen raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, UBS Group set a $25.00 price objective on shares of Eagle Bancorp in a report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eagle Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.