Eagle Bancorp, Inc. (NASDAQ:EGBN) Shareholders to Collect $0.01 Quarterly Dividend

Key Points

• Eagle Bancorp declared a quarterly dividend of $0.01 per share, payable November 17 to shareholders of record on November 6. The annualized dividend is $0.04, representing a 0.1% yield.
• The dividend appears well covered, with a current payout ratio of 1.4% and an expected future payout ratio of 1.7%, despite the company slightly reducing its dividend over the past three years.
• Eagle Bancorp reported quarterly EPS of $0.79, exceeding the $0.34 consensus estimate, while analysts maintain a consensus “Hold” rating and a $31 target price.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Friday, November 6th will be paid a dividend of $0.01 per share by the financial services provider on Tuesday, November 17th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, November 6th.

Eagle Bancorp has decreased its dividend by an average of 0.1% per year over the last three years. Eagle Bancorp has a dividend payout ratio of 1.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eagle Bancorp to earn $2.33 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 1.7%.

Eagle Bancorp Stock Performance

Shares of NASDAQ EGBN traded up $2.83 during midday trading on Thursday, reaching $31.36. 227,551 shares of the company traded hands, compared to its average volume of 315,559. Eagle Bancorp has a 52 week low of $15.03 and a 52 week high of $31.55. The stock has a 50-day moving average price of $28.05 and a 200 day moving average price of $27.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $955.92 million, a price-to-earnings ratio of -24.86 and a beta of 0.98.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.45. The business had revenue of $70.87 million during the quarter, compared to the consensus estimate of $71.78 million. Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. Sell-side analysts anticipate that Eagle Bancorp will post 1.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EGBN shares. Zacks Research upgraded shares of Eagle Bancorp from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 27th. Piper Sandler increased their price objective on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eagle Bancorp in a report on Wednesday, September 2nd. Finally, Hovde Group started coverage on shares of Eagle Bancorp in a research note on Wednesday, October 7th. They set an "outperform" rating and a $37.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Eagle Bancorp presently has a consensus rating of "Hold" and a consensus target price of $31.00.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial banking institution headquartered in Bethesda, Maryland. Founded in 1998, EagleBank serves businesses, professional practices, nonprofit organizations and individual customers primarily in the Washington, DC, metropolitan region, including communities in Maryland and Northern Virginia.

EagleBank provides commercial and retail banking services, including business and personal checking and savings accounts, commercial real estate lending, construction financing, commercial and industrial loans, residential mortgages and other credit products.

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