Franklin Resources Inc. Increases Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Franklin Resources Inc. boosted its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 54.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,599 shares of the financial services provider's stock after buying an additional 14,252 shares during the quarter. Franklin Resources Inc. owned approximately 0.13% of Eagle Bancorp worth $1,057,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EGBN. Smartleaf Asset Management LLC lifted its holdings in Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock worth $26,000 after purchasing an additional 775 shares in the last quarter. R Squared Ltd bought a new stake in Eagle Bancorp in the 4th quarter worth approximately $51,000. Millstone Evans Group LLC bought a new position in shares of Eagle Bancorp during the 4th quarter valued at approximately $59,000. GAMMA Investing LLC grew its holdings in shares of Eagle Bancorp by 45.7% in the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 1,116 shares in the last quarter. Finally, FMR LLC raised its stake in Eagle Bancorp by 84.9% during the third quarter. FMR LLC now owns 4,785 shares of the financial services provider's stock valued at $108,000 after purchasing an additional 2,197 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Stock Performance

Shares of NASDAQ EGBN traded up $0.19 during mid-day trading on Friday, hitting $20.29. The stock had a trading volume of 481,328 shares, compared to its average volume of 326,184. The firm has a market cap of $616.21 million, a PE ratio of -12.92 and a beta of 1.04. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94. The company has a 50 day moving average of $21.77 and a two-hundred day moving average of $24.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. Research analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, February 7th. Eagle Bancorp's dividend payout ratio (DPR) is currently -42.04%.

Analysts Set New Price Targets

Several research firms have recently issued reports on EGBN. Piper Sandler lowered their price objective on Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods cut their price target on shares of Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating on the stock in a report on Monday, January 27th.

Insider Buying and Selling

In other news, CFO Eric R. Newell purchased 1,170 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $21.37 per share, with a total value of $25,002.90. Following the purchase, the chief financial officer now directly owns 28,733 shares of the company's stock, valued at $614,024.21. This represents a 4.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is currently owned by company insiders.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.