BETHESDA, Md. - Eagle Bancorp , Inc. (NASDAQ:EGBN), the parent company of EagleBank, has declared a quarterly cash dividend of $0.45 per share for the first quarter of 2024. Shareholders on record as of April 18, 2024, will be eligible for the dividend, which is scheduled for disbursement on April 30, 2024.
The bank, which began operations in 1998, is headquartered in Bethesda, Maryland. It has a network of thirteen branch offices across Suburban Maryland, Washington, D.C., and Northern Virginia. EagleBank primarily serves the business community, professionals, and individual clients within its market areas, emphasizing relationship-building as a cornerstone of its business strategy.
The announcement of the dividend follows Eagle Bancorp's focus on delivering value to its shareholders and is a continuation of its financial practices. The company's forward-looking statements indicate a positive outlook, though they acknowledge the presence of risks, uncertainties, and assumptions that could affect future results.
Investors are advised that forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected. These uncertainties may arise from the volatility and unpredictability of global markets and economic conditions. The company has directed interested parties to its filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023, for a more detailed discussion of potential risk factors.
The information disclosed in this news article is based on a press release statement from Eagle Bancorp, Inc. and is intended to inform shareholders and the public of the company's latest financial developments.
InvestingPro Insights
Eagle Bancorp's recent declaration of a $0.45 per share quarterly cash dividend is a testament to the company's commitment to returning value to its shareholders. This move aligns with the InvestingPro Tips that highlight the company's strategy of rewarding shareholders, as Eagle Bancorp has consistently raised its dividend for the last five consecutive years.
Moreover, the company's management has been actively engaged in share buybacks, a sign of confidence in the company's value and prospects.
From a financial perspective, Eagle Bancorp's market capitalization stands at $703.03 million, with a notably low price-to-earnings (P/E) ratio of 7.07, indicating that the company's shares may be trading at a discount relative to its earnings. The adjusted P/E ratio for the last twelve months as of Q4 2023 is even slightly lower at 6.99. Moreover, the company's dividend yield as of early 2024 is substantial at 7.77%, which is particularly attractive for income-focused investors.
Despite recent challenges, as reflected by a revenue decline of 20.85% in the last twelve months as of Q4 2023, Eagle Bancorp remains profitable, with analysts predicting profitability for the year. The company's operating income margin is robust at 49.63%, suggesting efficient management of its operations. For those interested in further financial analysis and additional InvestingPro Tips, there are more insights available on the company's page at InvestingPro, where users can also apply the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With a total of 9 additional InvestingPro Tips listed for Eagle Bancorp, investors have ample information to make informed decisions. These tips include insights into the company's earnings multiple, dividend consistency, and profitability, which are crucial for understanding the company's financial health and investment potential.
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