Zacks Investment Research Upgrades Eagle Bancorp Montana (NASDAQ:EBMT) to Buy

Eagle Bancorp Montana (NASDAQ:EBMT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $19.00 target price on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.56% from the stock’s current price.

According to Zacks, “Eagle Bancorp operates as a holding company for American Federal Savings Bank that provides retail banking services in the south central portion of Montana. The company offers various deposit and loan products and services. The Bank is a federally chartered savings bank, engaging in typical banking activities: acquiring deposits from local markets and investing in loans and investment securities. Eagle Bancorp also offers real estate construction loans; consumer loans comprising auto loans, RV loans, boat loans, personal loans and credit lines, and deposit account loans; and commercial loans. Headquartered in Helena, Montana, the Company’s mission is to efficiently increase value for its customers, shareholders, employees and communities. “

Separately, ValuEngine raised shares of Eagle Bancorp Montana from a “strong sell” rating to a “sell” rating in a report on Thursday.

Eagle Bancorp Montana stock traded down $0.32 during midday trading on Thursday, hitting $16.88. 500 shares of the company’s stock were exchanged, compared to its average volume of 7,074. Eagle Bancorp Montana has a 12-month low of $14.20 and a 12-month high of $18.28. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.00 and a current ratio of 1.03. The stock has a market cap of $109.25 million, a price-to-earnings ratio of 15.78 and a beta of 0.50. The firm’s 50 day simple moving average is $16.76 and its 200 day simple moving average is $16.79.

Eagle Bancorp Montana (NASDAQ:EBMT) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.12. The business had revenue of $15.20 million for the quarter, compared to the consensus estimate of $13.45 million. Eagle Bancorp Montana had a net margin of 13.02% and a return on equity of 8.68%. On average, equities research analysts forecast that Eagle Bancorp Montana will post 1.77 EPS for the current fiscal year.

In other news, Director Shavon Cape bought 3,790 shares of the stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of $17.30 per share, with a total value of $65,567.00. Following the completion of the acquisition, the director now directly owns 7,145 shares in the company, valued at $123,608.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

Several large investors have recently modified their holdings of EBMT. Naples Global Advisors LLC purchased a new stake in shares of Eagle Bancorp Montana in the second quarter valued at about $471,000. Wells Fargo & Company MN boosted its holdings in Eagle Bancorp Montana by 261.4% during the second quarter. Wells Fargo & Company MN now owns 3,303 shares of the bank’s stock worth $55,000 after buying an additional 2,389 shares in the last quarter. Stockman Wealth Management Inc. boosted its holdings in Eagle Bancorp Montana by 4.1% during the second quarter. Stockman Wealth Management Inc. now owns 26,763 shares of the bank’s stock worth $444,000 after buying an additional 1,050 shares in the last quarter. Context BH Capital Management LP boosted its holdings in Eagle Bancorp Montana by 1.0% during the second quarter. Context BH Capital Management LP now owns 63,400 shares of the bank’s stock worth $1,052,000 after buying an additional 611 shares in the last quarter. Finally, Jacobs Asset Management LLC boosted its holdings in Eagle Bancorp Montana by 7.2% during the second quarter. Jacobs Asset Management LLC now owns 236,424 shares of the bank’s stock worth $3,925,000 after buying an additional 15,778 shares in the last quarter. 36.30% of the stock is currently owned by institutional investors and hedge funds.

About Eagle Bancorp Montana

Eagle Bancorp Montana, Inc operates as the bank holding company for Opportunity Bank of Montana that provides various retail banking products and services in Montana. The company accepts various deposit products, such as checking, savings, money market, and individual retirement accounts, as well as certificates of deposit accounts.

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