Connor Clark & Lunn Investment Management Ltd. Takes $1.67 Million Position in Eagle Bancorp Montana, Inc. $EBMT

Key Points

• Connor Clark & Lunn Investment Management acquired 69,589 shares of Eagle Bancorp Montana worth approximately $1.67 million, representing about 0.87% of the company. Institutional investors collectively own 35.66% of EBMT.
• Weiss Ratings upgraded EBMT to “buy (a-),” while analysts maintain a “Moderate Buy” consensus with a $23.50 price target. The stock recently traded at $22.70.
• Eagle Bancorp Montana increased its quarterly dividend to $0.1475 per share, equivalent to a 2.6% annualized yield. The bank reported quarterly EPS of $0.47, below the $0.50 consensus estimate, despite revenue exceeding expectations.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Eagle Bancorp Montana, Inc. (NASDAQ:EBMT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 69,589 shares of the bank's stock, valued at approximately $1,665,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.87% of Eagle Bancorp Montana at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EBMT. Allworth Financial LP purchased a new position in Eagle Bancorp Montana during the 2nd quarter valued at about $25,000. Russell Investments Group Ltd. purchased a new stake in shares of Eagle Bancorp Montana in the 3rd quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in shares of Eagle Bancorp Montana in the 2nd quarter worth approximately $28,000. BNP Paribas Financial Markets boosted its stake in shares of Eagle Bancorp Montana by 60.8% during the third quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank's stock valued at $30,000 after purchasing an additional 664 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Eagle Bancorp Montana by 355.3% during the first quarter. Jones Financial Companies Lllp now owns 2,263 shares of the bank's stock valued at $38,000 after purchasing an additional 1,766 shares in the last quarter. 35.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Eagle Bancorp Montana Price Performance

Shares of EBMT opened at $22.70 on Friday. The company has a 50 day moving average of $23.42 and a two-hundred day moving average of $22.49. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.49. Eagle Bancorp Montana, Inc. has a twelve month low of $15.80 and a twelve month high of $24.66. The company has a market cap of $180.92 million, a price-to-earnings ratio of 11.13 and a beta of 0.35.

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

Eagle Bancorp Montana Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.1475 per share. The ex-dividend date is Friday, August 14th. This is a positive change from Eagle Bancorp Montana's previous quarterly dividend of $0.14. This represents a $0.59 dividend on an annualized basis and a dividend yield of 2.6%. Eagle Bancorp Montana's payout ratio is presently 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.

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