Zacks Investment Research lowered shares of Eagle Bancorp Montana, Inc. (NASDAQ:EBMT) from a hold rating to a strong sell rating in a report issued on Wednesday morning.

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. “

Shares of Eagle Bancorp Montana (NASDAQ:EBMT) opened at 18.143 on Wednesday. The firm has a market cap of $69.14 million, a P/E ratio of 13.956 and a beta of 0.35. Eagle Bancorp Montana has a 1-year low of $13.42 and a 1-year high of $24.00. The firm has a 50 day moving average price of $18.28 and a 200 day moving average price of $19.17.

Eagle Bancorp Montana (NASDAQ:EBMT) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.11. The company had revenue of $9.45 million for the quarter, compared to the consensus estimate of $9.60 million. Eagle Bancorp Montana had a return on equity of 8.44% and a net margin of 12.06%. Analysts anticipate that Eagle Bancorp Montana will post $1.22 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Wednesday, August 9th. This is a boost from Eagle Bancorp Montana’s previous quarterly dividend of $0.08. Eagle Bancorp Montana’s dividend payout ratio is 24.62%.

Eagle Bancorp Montana declared that its board has initiated a share buyback program on Friday, July 21st that authorizes the company to buyback 100,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently added to or reduced their stakes in EBMT. Dimensional Fund Advisors LP boosted its position in Eagle Bancorp Montana by 76.8% in the first quarter. Dimensional Fund Advisors LP now owns 26,696 shares of the bank’s stock worth $538,000 after buying an additional 11,593 shares during the period. Naples Global Advisors LLC boosted its position in Eagle Bancorp Montana by 0.5% in the second quarter. Naples Global Advisors LLC now owns 20,150 shares of the bank’s stock worth $365,000 after buying an additional 100 shares during the period. Renaissance Technologies LLC bought a new position in Eagle Bancorp Montana during the fourth quarter worth about $348,000. Stockman Wealth Management Inc. boosted its position in Eagle Bancorp Montana by 8.7% in the first quarter. Stockman Wealth Management Inc. now owns 16,283 shares of the bank’s stock worth $324,000 after buying an additional 1,300 shares during the period. Finally, Context BH Capital Management LP bought a new position in Eagle Bancorp Montana during the first quarter worth about $303,000. 29.02% of the stock is currently owned by institutional investors.

About Eagle Bancorp Montana

Eagle Bancorp Montana, Inc is the bank holding company for Opportunity Bank of Montana (the Bank). The Bank is a Montana-chartered commercial bank. The Bank has equity investments in Certified Development Entities, which have received allocations of New Markets Tax Credits (NMTC). The Company offers wealth management services at its locations through financial advisors employed by the Bank.

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