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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.