652,376 Shares in Eagle Bancorp Montana, Inc. $EBMT Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 652,376 shares of Eagle Bancorp Montana, valued at approximately $15.6 million, giving it an 8.19% stake. Institutional investors collectively own 35.66% of the bank.
• Analyst sentiment is moderately positive: Weiss Ratings upgraded the stock to “buy (a-),” while the consensus rating is “Moderate Buy” with a $23.50 price target. The bank reported quarterly EPS of $0.47, below estimates, but revenue exceeded expectations.
• Eagle Bancorp Montana raised its quarterly dividend to $0.1475 per share, equivalent to $0.59 annually and a 2.6% yield.

BlackRock Inc. purchased a new position in shares of Eagle Bancorp Montana, Inc. (NASDAQ:EBMT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 652,376 shares of the bank's stock, valued at approximately $15,611,000. BlackRock Inc. owned approximately 8.19% of Eagle Bancorp Montana at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fourthstone LLC boosted its position in Eagle Bancorp Montana by 272.3% in the fourth quarter. Fourthstone LLC now owns 342,748 shares of the bank's stock valued at $6,821,000 after buying an additional 250,681 shares in the last quarter. Geode Capital Management LLC increased its stake in Eagle Bancorp Montana by 108.0% in the second quarter. Geode Capital Management LLC now owns 173,405 shares of the bank's stock valued at $2,891,000 after purchasing an additional 90,024 shares in the last quarter. Sei Investments Co. acquired a new position in Eagle Bancorp Montana during the 1st quarter worth approximately $1,305,000. Marshall Wace LLP acquired a new position in shares of Eagle Bancorp Montana during the second quarter worth approximately $699,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Eagle Bancorp Montana by 145.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 66,642 shares of the bank's stock valued at $1,111,000 after buying an additional 39,464 shares in the last quarter. Institutional investors own 35.66% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Eagle Bancorp Montana from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.50.

Eagle Bancorp Montana Stock Performance

NASDAQ:EBMT opened at $22.82 on Friday. Eagle Bancorp Montana, Inc. has a 52-week low of $15.80 and a 52-week high of $24.66. The firm has a market cap of $181.88 million, a price-to-earnings ratio of 11.19 and a beta of 0.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 0.87. The business's fifty day moving average is $23.33 and its 200 day moving average is $22.47.

Eagle Bancorp Montana (NASDAQ:EBMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). The firm had revenue of $24.16 million during the quarter, compared to the consensus estimate of $23.55 million. Eagle Bancorp Montana had a net margin of 12.57% and a return on equity of 8.36%. Research analysts predict that Eagle Bancorp Montana, Inc. will post 2.03 EPS for the current year.

Eagle Bancorp Montana Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 14th will be paid a $0.1475 dividend. This is an increase from Eagle Bancorp Montana's previous quarterly dividend of $0.14. This represents a $0.59 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 14th. Eagle Bancorp Montana's payout ratio is 28.92%.

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.

Want to see what other hedge funds are holding EBMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Bancorp Montana, Inc. (NASDAQ:EBMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source