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

Eagle Bancorp (NASDAQ:EGBN) released its earnings results on Wednesday. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $71.78 million.

Eagle Bancorp Trading Down 0.1%

Shares of Eagle Bancorp stock traded down $0.03 during trading on Wednesday, hitting $28.53. The stock had a trading volume of 463,951 shares, compared to its average volume of 316,376. The stock has a 50 day simple moving average of $28.05 and a 200 day simple moving average of $27.41. The company has a market capitalization of $869.59 million, a PE ratio of -22.64 and a beta of 0.98. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 1 year low of $15.03 and a 1 year high of $29.29.

Wall Street Analyst Weigh In

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