Eagle Bancorp (NASDAQ:EGBN) Releases Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Key Points

• Eagle Bancorp reported quarterly EPS of $0.79, beating analyst expectations of $0.34 by $0.45. Revenue was $70.87 million, slightly below the $71.78 million consensus estimate.
• The company’s shares were nearly flat at $28.53, while Eagle Bancorp continued to report a negative net margin of 6.43% and negative return on equity of 3.37%.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $31.00; individual ratings range from Strong Buy to Sell.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) released its quarterly earnings data on Wednesday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.45, FiscalAI reports. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%. The firm had revenue of $70.87 million during the quarter, compared to analysts' expectations of $71.78 million.

Eagle Bancorp Stock Performance

Shares of EGBN traded down $0.03 during mid-day trading on Wednesday, hitting $28.53. The company's stock had a trading volume of 463,951 shares, compared to its average volume of 316,376. Eagle Bancorp has a one year low of $15.03 and a one year high of $29.29. The stock's 50-day moving average is $28.05 and its two-hundred day moving average is $27.41. The firm has a market capitalization of $869.59 million, a PE ratio of -22.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EGBN. Zacks Research upgraded Eagle Bancorp from a "strong sell" rating to a "hold" rating in a report on Thursday, August 27th. Hovde Group assumed coverage on Eagle Bancorp in a research report on Wednesday, October 7th. They set an "outperform" rating and a $37.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eagle Bancorp in a report on Wednesday, September 2nd. Finally, Piper Sandler lifted their price target on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Eagle Bancorp has a consensus rating of "Hold" and a consensus target price of $31.00.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank serving businesses, professionals, nonprofit organizations and individuals. The company is headquartered in Bethesda, Maryland, and its primary market includes the Washington, DC, metropolitan area, including suburban Maryland and Northern Virginia.

EagleBank provides commercial banking products and services such as business and commercial real estate lending, construction and acquisition financing, commercial and industrial loans, residential and consumer lending, deposit accounts, cash-management services and online banking.

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