Eagle Bancorp (NASDAQ: EGBN) saw its stock soar 11.88% in pre-market trading on Thursday, as the company's fourth-quarter 2024 earnings results exceeded Wall Street expectations, driven by a strong net interest margin performance.
The regional bank holding company reported earnings of $0.50 per share for the fourth quarter, surpassing the consensus analyst estimate of $0.49 per share. This positive earnings surprise, coupled with a robust net interest margin of 2.29%, fueled investor optimism and propelled the stock higher in the pre-market session.
Despite a revenue miss of $70.79 million compared to expectations of $73.21 million, Eagle Bancorp's ability to deliver better-than-expected earnings and maintain a healthy net interest margin, a key profitability metric for banks, appears to have outweighed concerns about top-line weakness. The company also announced a quarterly dividend of $0.165 per share, further bolstering investor confidence in its financial performance.