Franklin Resources Inc. Sells 13,346 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Franklin Resources Inc. cut its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 33.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,347 shares of the financial services provider’s stock after selling 13,346 shares during the quarter. Franklin Resources Inc. owned 0.09% of Eagle Bancorp worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Eagle Bancorp by 122.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,917 shares of the financial services provider’s stock worth $131,000 after buying an additional 3,804 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its position in Eagle Bancorp by 36.1% in the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 721 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Eagle Bancorp by 52.3% during the second quarter. Quest Partners LLC now owns 75,250 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 25,850 shares during the period. Choreo LLC bought a new position in shares of Eagle Bancorp in the second quarter worth approximately $689,000. Finally, Texas Permanent School Fund Corp increased its stake in shares of Eagle Bancorp by 47.1% in the second quarter. Texas Permanent School Fund Corp now owns 38,514 shares of the financial services provider’s stock worth $728,000 after buying an additional 12,323 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler began coverage on Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price on the stock. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Eagle Bancorp Price Performance

EGBN opened at $25.90 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $782.23 million, a price-to-earnings ratio of -18.50 and a beta of 1.09. The stock has a fifty day simple moving average of $27.86 and a two-hundred day simple moving average of $23.32. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.27. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. The company had revenue of $180.76 million during the quarter, compared to analysts’ expectations of $80.31 million. During the same period last year, the company posted $0.91 EPS. Research analysts predict that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

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.