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

Franklin Resources Inc. grew its position in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 54.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,599 shares of the financial services provider's stock after buying an additional 14,252 shares during the period. Franklin Resources Inc. owned 0.13% of Eagle Bancorp worth $1,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in Eagle Bancorp by 353.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock worth $26,000 after acquiring an additional 775 shares in the last quarter. R Squared Ltd purchased a new position in shares of Eagle Bancorp in the 4th quarter valued at approximately $51,000. Millstone Evans Group LLC acquired a new stake in Eagle Bancorp in the 4th quarter worth approximately $59,000. GAMMA Investing LLC grew its position in Eagle Bancorp by 45.7% during the 4th quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider's stock worth $93,000 after purchasing an additional 1,116 shares during the last quarter. Finally, FMR LLC increased its stake in Eagle Bancorp by 84.9% during the 3rd 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. Hedge funds and other institutional investors own 78.03% of the company's stock.

Eagle Bancorp Stock Performance

NASDAQ:EGBN traded up $0.19 during midday trading on Friday, hitting $20.29. The company's stock had a trading volume of 481,328 shares, compared to its average volume of 326,506. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.86. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $30.94. The firm's 50 day moving average is $21.65 and its 200-day moving average is $24.82. The firm has a market cap of $616.21 million, a P/E ratio of -12.92 and a beta of 1.04.

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

Eagle Bancorp Dividend Announcement

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

Insider Buying and Selling at Eagle Bancorp

In related news, CFO Eric R. Newell purchased 1,170 shares of Eagle Bancorp stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the transaction, the chief financial officer now owns 28,733 shares in the company, valued at $614,024.21. The trade was a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

EGBN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price objective 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. Piper Sandler lowered their price target on Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating for the company in a research report on Friday, January 24th.

Eagle Bancorp 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.