Eagle Bancorp (NASDAQ:EGBN) Issues Quarterly Earnings Results

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported ($2.30) EPS for the quarter, missing the consensus estimate of $0.40 by ($2.70), Zacks reports. Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%. The firm had revenue of $74.19 million for the quarter, compared to analyst estimates of $73.03 million.

Eagle Bancorp Stock Performance

NASDAQ:EGBN traded down $0.68 during trading hours on Friday, reaching $16.25. 1,091,577 shares of the stock were exchanged, compared to its average volume of 513,056. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $20.88. Eagle Bancorp has a 52 week low of $16.13 and a 52 week high of $30.94. The stock has a market capitalization of $493.68 million, a P/E ratio of -15.93 and a beta of 1.05.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, August 8th. Eagle Bancorp's dividend payout ratio is presently -64.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EGBN. Jefferies Financial Group set a $20.00 target price on Eagle Bancorp and gave the company a "hold" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price target on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Piper Sandler reduced their price target on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Janney Montgomery Scott raised Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target for the company in a report on Tuesday, June 10th. Finally, Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $21.75.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Eagle Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider's stock worth $369,000 after buying an additional 780 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Eagle Bancorp by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 219,930 shares of the financial services provider's stock worth $4,619,000 after buying an additional 17,943 shares during the last quarter. Empowered Funds LLC lifted its holdings in Eagle Bancorp by 65.0% during the 1st quarter. Empowered Funds LLC now owns 91,087 shares of the financial services provider's stock worth $1,913,000 after buying an additional 35,898 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Eagle Bancorp by 164.6% in the 1st quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider's stock worth $6,602,000 after purchasing an additional 195,567 shares during the last quarter. Institutional investors own 78.03% 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.