A company has declared a cash dividend amounting to 16.5 cents per share, demonstrating its commitment to returning value to its shareholders.
This upcoming dividend is scheduled to be disbursed on May 16, benefiting those investors who are on the books as of May 5. The move underscores the company's continuous effort to maintain shareholder trust and reward its investors through consistent dividend payments.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Eagle Bancorp Inc (EGBN, Financial) is $26.33 with a high estimate of $29.00 and a low estimate of $25.00. The average target implies an upside of 24.27% from the current price of $21.19. More detailed estimate data can be found on the Eagle Bancorp Inc (EGBN) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Eagle Bancorp Inc's (EGBN, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Eagle Bancorp Inc (EGBN, Financial) in one year is $26.41, suggesting a upside of 24.63% from the current price of $21.19. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Eagle Bancorp Inc (EGBN) Summary page.
Key Business Developments
Release Date: January 23, 2025
- Net Income: $15.3 million for the quarter.
- Earnings Per Share (EPS): $0.50 per diluted share.
- Deposit Growth: $590.2 million in the fourth quarter.
- Net Charge Offs: $9.5 million in the fourth quarter.
- Nonperforming Loans: $208.7 million at December 31st.
- Net Interest Margin (NIM): Declined to 2.29%.
- Tier One Leverage Ratio: 10.74%.
- Common Equity Tier One Ratio: 14.63%.
- Tangible Common Equity Ratio: 11.02%.
- Allowance for Credit Losses: $114 million, covering 1.44% of total loans.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Eagle Bancorp Inc (EGBN, Financial) reported net income of $15.3 million for the fourth quarter, reflecting a proactive approach to managing valuation risk.
- The company successfully moved a $74.9 million office loan to nonaccrual status while maintaining contractual payments, indicating strong asset management.
- Eagle Bancorp Inc (EGBN) achieved significant deposit growth of $590.2 million in the fourth quarter, allowing for the full repayment of $1 billion in bank term funding program debt.
- The company strengthened its C&I team to deepen relationships and grow deposits and fee income, key components of its profitability strategy.
- Eagle Bancorp Inc (EGBN) maintains a strong capital position with a common equity tier one ratio increase of 33 basis points to 14.63%.
Negative Points
- Net interest income declined due to a $369,165 reversal from interest income because of the migration to nonaccrual of a significant office loan.
- Nonperforming loans increased to $208.7 million at the end of the fourth quarter, driven by the office loan, raising concerns about asset quality.
- The company experienced a decline in net interest margin by eight basis points to 2.29% in the fourth quarter.
- Higher noninterest expenses and lower fee income contributed to a decline in pretax income by $6.9 million to $19.8 million.
- Eagle Bancorp Inc (EGBN) faced a 44% decline in the appraised value of a significant office loan, leading to a $9 million charge-off.
