Eagle Bancorp (NASDAQ:EGBN) Issues Earnings Results

Eagle Bancorp (NASDAQ:EGBN) released its earnings results on Wednesday. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.34, Zacks 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 $175.06 million for the quarter, compared to analysts’ expectations of $80.90 million. During the same quarter last year, the business earned $0.94 EPS.

Eagle Bancorp Stock Performance

Shares of Eagle Bancorp stock traded down $0.05 on Friday, hitting $22.60. 460,111 shares of the company traded hands, compared to its average volume of 332,699. The stock has a market capitalization of $682.29 million, a P/E ratio of 9.00 and a beta of 1.08. Eagle Bancorp has a 52 week low of $15.99 and a 52 week high of $31.97. The business has a 50-day simple moving average of $18.92 and a 200 day simple moving average of $21.64.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Saturday, July 20th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.96%. The ex-dividend date is Friday, July 19th. Eagle Bancorp’s payout ratio is currently 71.71%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, June 9th.

Insider Activity

In related news, CEO Susan G. Riel acquired 5,260 shares of Eagle Bancorp stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average price of $18.73 per share, for a total transaction of $98,519.80. Following the completion of the transaction, the chief executive officer now directly owns 332,210 shares in the company, valued at approximately $6,222,293.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eagle Bancorp news, Director A. Leslie Ludwig bought 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $16.89 per share, with a total value of $25,335.00. Following the completion of the acquisition, the director now owns 41,413 shares in the company, valued at approximately $699,465.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Susan G. Riel bought 5,260 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average cost of $18.73 per share, with a total value of $98,519.80. Following the completion of the acquisition, the chief executive officer now owns 332,210 shares of the company’s stock, valued at approximately $6,222,293.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,582 shares of company stock worth $173,108 over the last quarter. Insiders own 3.10% of the company’s stock.

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.