Eagle Bancorp, Inc. Declares Quarterly Dividend of $0.17 (NASDAQ:EGBN)

Eagle Bancorp, Inc. (NASDAQ:EGBN) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Friday, February 7th will be paid a dividend of 0.165 per share by the financial services provider on Friday, February 21st. This represents a $0.66 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, February 7th.

Eagle Bancorp has raised its dividend by an average of 7.5% per year over the last three years. Eagle Bancorp has a dividend payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eagle Bancorp to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 27.3%.

Eagle Bancorp Price Performance

EGBN stock traded up $0.45 on Thursday, reaching $25.03. 386,587 shares of the company’s stock were exchanged, compared to its average volume of 229,643. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm has a market cap of $755.91 million, a PE ratio of -17.86 and a beta of 1.10. Eagle Bancorp has a twelve month low of $15.99 and a twelve month high of $30.94. The stock has a fifty day moving average of $27.19 and a 200-day moving average of $24.19.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. As a group, equities analysts predict that Eagle Bancorp will post 1.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on EGBN shares. Keefe, Bruyette & Woods increased their price objective on Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Piper Sandler began coverage on Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective on the 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.