Eagle Bancorp, Inc. (NASDAQ:EGBN) Announces Quarterly Dividend of $0.01

Eagle Bancorp, Inc. (NASDAQ:EGBN) declared a quarterly dividend on Wednesday, October 21st. Shareholders of record on Friday, November 6th will be given 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 yield of 0.1%. The ex-dividend date of this dividend is Friday, November 6th.

Eagle Bancorp has decreased its dividend payment by an average of 0.1% per year over the last three years. Eagle Bancorp has a payout ratio of 1.4% meaning its dividend is sufficiently covered by earnings. 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 EGBN stock traded up $2.83 during trading hours on Thursday, hitting $31.36. 262,720 shares of the company were exchanged, compared to its average volume of 315,777. The firm has a fifty day simple moving average of $28.05 and a 200 day simple moving average of $27.43. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 52-week low of $15.03 and a 52-week high of $31.55. The stock has a market capitalization of $956.01 million, a price-to-earnings ratio of -25.05 and a beta of 0.98.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Hovde Group initiated coverage on shares of Eagle Bancorp in a research report on Wednesday, October 7th. They issued an “outperform” rating and a $37.00 price target on the stock. Piper Sandler lifted their price objective on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Finally, Zacks Research raised Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.