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

Eagle Bancorp, Inc. (NASDAQ:EGBN) announced a quarterly dividend on Thursday, October 3rd, Wall Street Journal reports. Investors of record on Monday, October 21st will be paid a dividend of 0.165 per share by the financial services provider on Thursday, October 31st. This represents a $0.66 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Monday, October 21st.

Eagle Bancorp has raised its dividend payment by an average of 26.9% per year over the last three years. Eagle Bancorp has a dividend payout ratio of 83.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Eagle Bancorp to earn $1.85 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 97.3%.

Eagle Bancorp Price Performance

Shares of EGBN traded down $0.11 during trading hours on Thursday, reaching $22.89. The company had a trading volume of 220,352 shares, compared to its average volume of 314,560. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $691.05 million, a price-to-earnings ratio of 9.18 and a beta of 1.09. Eagle Bancorp has a 12-month low of $15.99 and a 12-month high of $31.97. The firm has a 50 day simple moving average of $21.18 and a 200-day simple moving average of $20.38.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The company had revenue of $175.06 million during the quarter, compared to the consensus estimate of $80.90 million. During the same period in the previous year, the firm earned $0.94 earnings per share. Research analysts expect that Eagle Bancorp will post 1.46 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EGBN shares. Keefe, Bruyette & Woods raised their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. StockNews.com downgraded shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, June 9th.

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.