Eagle Bancorp (NASDAQ:EGBN) Releases Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Eagle Bancorp (NASDAQ:EGBN) released its quarterly earnings data on Wednesday. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.34, Zacks reports. The firm had revenue of $175.06 million during the quarter, compared to analysts’ expectations of $80.90 million. Eagle Bancorp had a return on equity of 6.11% and a net margin of 11.14%. During the same quarter in the prior year, the business posted $0.94 earnings per share.

Eagle Bancorp Stock Performance

NASDAQ:EGBN traded up $0.21 during trading hours on Thursday, hitting $22.65. The company’s stock had a trading volume of 486,590 shares, compared to its average volume of 319,820. The business’s 50-day moving average is $18.84 and its two-hundred day moving average is $21.68. The company has a market capitalization of $683.80 million, a PE ratio of 9.02 and a beta of 1.08. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $31.97.

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Saturday, July 20th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.95%. The ex-dividend date of this dividend is Friday, July 19th. Eagle Bancorp’s payout ratio is 71.71%.

Insider Buying and Selling at Eagle Bancorp

In other news, Director A. Leslie Ludwig bought 1,500 shares of the stock in a transaction on Thursday, June 13th. The shares were bought at an average price 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 of the company’s stock, valued at $699,465.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Susan G. Riel bought 5,260 shares of the stock in a transaction on Tuesday, April 30th. The shares were bought at an average price 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 $6,222,293.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A. Leslie Ludwig bought 1,500 shares of the stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $16.89 per share, for a total transaction of $25,335.00. Following the acquisition, the director now directly owns 41,413 shares of the company’s stock, valued at approximately $699,465.57. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 9,582 shares of company stock valued at $173,108. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.