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

Eagle Bancorp (NASDAQ:EGBN) released its earnings results on Wednesday. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.45, FiscalAI reports. Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. The business had revenue of $70.87 million during the quarter, compared to analysts’ expectations of $71.78 million.

Eagle Bancorp Price Performance

NASDAQ EGBN traded down $0.03 on Wednesday, reaching $28.53. The company’s stock had a trading volume of 463,951 shares, compared to its average volume of 316,376. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market cap of $869.59 million, a PE ratio of -22.64 and a beta of 0.98. Eagle Bancorp has a 52 week low of $15.03 and a 52 week high of $29.29. The business has a 50-day moving average price of $28.05 and a 200 day moving average price of $27.41.

Analyst Ratings Changes

Several brokerages recently issued reports on EGBN. Zacks Research upgraded Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Hovde Group began coverage on Eagle Bancorp in a report on Wednesday, October 7th. They set an “outperform” rating and a $37.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Eagle Bancorp presently 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.