Eagle Bancorp Montana (NASDAQ:EBMT) Price Target Raised to $23.00

Key Points

• Hovde Group raised its price target for Eagle Bancorp Montana from $20 to $23 and assigned a "market perform" rating; MarketBeat's consensus is a "Hold" with an average target of $23.50 (DA Davidson's target is $24).
• Quarterly results beat expectations: the bank posted $0.51 EPS versus $0.45 expected and revenue of $23.58M versus $23.05M, with the stock trading near $22.76 and a 1-year high of $23.95.
• Insiders have been net sellers, selling about 19,647 shares (~$446K) in the last three months; insiders own 5.8% of the stock while institutional investors hold 35.66%.

Eagle Bancorp Montana (NASDAQ:EBMT - Get Free Report) had its price objective hoisted by equities researchers at Hovde Group from $20.00 to $23.00 in a research report issued on Thursday. The brokerage currently has a "market perform" rating on the bank's stock. Hovde Group's target price indicates a potential upside of 1.05% from the stock's current price.

A number of other brokerages have also recently commented on EBMT. Zacks Research cut Eagle Bancorp Montana from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Eagle Bancorp Montana in a research note on Friday, April 10th. Finally, DA Davidson lifted their price target on Eagle Bancorp Montana from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $23.50.

Eagle Bancorp Montana Stock Performance

Shares of NASDAQ EBMT opened at $22.76 on Thursday. The stock has a market cap of $181.40 million, a price-to-earnings ratio of 12.11 and a beta of 0.30. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Eagle Bancorp Montana has a 1-year low of $15.10 and a 1-year high of $23.95. The stock's 50-day moving average is $21.48 and its 200 day moving average is $19.83.

Eagle Bancorp Montana (NASDAQ:EBMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. The company had revenue of $23.58 million for the quarter, compared to analysts' expectations of $23.05 million. Eagle Bancorp Montana had a return on equity of 8.06% and a net margin of 11.67%. On average, sell-side analysts anticipate that Eagle Bancorp Montana will post 2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eagle Bancorp Montana news, Director Kenneth M. Walsh sold 10,000 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.47, for a total value of $224,700.00. Following the sale, the director directly owned 92,260 shares of the company's stock, valued at approximately $2,073,082.20. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter Joseph Johnson sold 3,355 shares of the business's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $23.11, for a total value of $77,534.05. Following the completion of the sale, the director directly owned 45,518 shares in the company, valued at $1,051,920.98. This trade represents a 6.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,647 shares of company stock valued at $446,110. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eagle Bancorp Montana

Several hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP boosted its holdings in Eagle Bancorp Montana by 6.0% in the fourth quarter. Brandes Investment Partners LP now owns 413,888 shares of the bank's stock worth $8,236,000 after acquiring an additional 23,519 shares in the last quarter. Fourthstone LLC boosted its holdings in Eagle Bancorp Montana by 272.3% in the fourth quarter. Fourthstone LLC now owns 342,748 shares of the bank's stock worth $6,821,000 after acquiring an additional 250,681 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Eagle Bancorp Montana by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 196,281 shares of the bank's stock worth $3,906,000 after purchasing an additional 8,432 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Eagle Bancorp Montana by 108.0% in the second quarter. Geode Capital Management LLC now owns 173,405 shares of the bank's stock worth $2,891,000 after purchasing an additional 90,024 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Eagle Bancorp Montana by 6.3% in the second quarter. Bank of America Corp DE now owns 77,711 shares of the bank's stock worth $1,295,000 after purchasing an additional 4,637 shares during the last quarter. 35.66% of the stock is owned by institutional investors.

Eagle Bancorp Montana Company Profile

Eagle Bancorp Montana, Inc is a bank holding company headquartered in Helena, Montana, that operates through its wholly owned subsidiary, Eagle Bank & Trust. The company offers a range of community banking services to individuals, small businesses and governmental entities. Its core offerings include deposit accounts, commercial and consumer lending, mortgage financing and treasury management.

Through Eagle Bank & Trust, the company provides checking and savings accounts, certificates of deposit, online and mobile banking platforms, ATM access and cash management solutions designed to meet the needs of local customers.

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