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Eagle Bancorp (EGBN)
NASDAQ:EGBN
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Earnings Data
Report Date
Jan 15, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.47Last Year’s EPS
$0.67Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 14.56%
|Next Earnings Date:Jan 15, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a balanced view with significant improvements in net income and strategic debt refinancing, alongside challenges in nonperforming assets and office portfolio valuation risks.Company Guidance
During the Q3 2024 earnings call for Eagle Bancorp, the company outlined several key metrics and strategic initiatives. Net income for the quarter was reported at $21.8 million, or $0.72 per diluted share, compared to an operating net income of $20.4 million, or $0.67 per share, in the previous quarter. The company successfully repaid $70 million in maturing subordinated debt and raised $77.7 million in unsecured senior debt, with executive management and the Board investing $3.9 million in this issuance. Eagle Bancorp's capital positions improved, with Tier 1 leverage capital increasing to 10.9%, and common equity Tier 1 capital rising to 14.5%. The company also recalibrated its dividend strategy, aiming to support future growth while reducing its CRE concentration ratio. While net charge-offs totaled $5.3 million for the quarter, special mention loans increased by $57 million, ending at $365 million. Nonaccrual loans and nonperforming assets saw increases, with NPAs reaching $137.1 million. The bank's strategic focus for the future includes improving asset quality, net income, profitability, and loan and deposit diversification, while a notable leadership change occurred with Evelyn Lee joining as Chief Lending Officer.Debt and Dividend Strategy
Eagle Bancorp repaid $70 million maturing subordinated debt and raised $77.7 million of unsecured senior debt. A recalibrated dividend strategy was announced to support future growth plans.
Capital and Liquidity Strength
Tier 1 leverage capital increased to 10.9%, and common equity Tier 1 capital increased to 14.5%. Available liquidity from various sources totaled over $4.5 billion.
Digital Channel Momentum
The digital strategy is designed to reduce the use of wholesale funding, showing positive results in the quarter.
Net Income Improvement
Reported net income for the quarter was $21.8 million, a significant improvement from the prior quarter's GAAP loss.
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EGBN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EGBN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $23.28 | $26.88 | +15.46% |
| Jul 24, 2024 | $22.29 | $22.50 | +0.94% |
| Apr 24, 2024 | $21.65 | $19.43 | -10.25% |
| Jan 24, 2024 | $26.54 | $25.81 | -2.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Eagle Bancorp (EGBN) report earnings?
Eagle Bancorp (EGBN) is schdueled to report earning on Jan 15, 2025, TBA Not Confirmed.
What is Eagle Bancorp (EGBN) earnings time?
Eagle Bancorp (EGBN) earnings time is at Jan 15, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EGBN EPS forecast?
EGBN EPS forecast for the fiscal quarter 2024 (Q4) is $0.47.
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