Morgan Dempsey Capital Management LLC Purchases New Position in Eagle Bancorp Montana, Inc. (NASDAQ:EBMT)
Morgan Dempsey Capital Management LLC purchased a new stake in shares of Eagle Bancorp Montana, Inc. (NASDAQ:EBMT) during the second quarter, Holdings Channel reports. The institutional investor purchased 32,232 shares of the bank’s stock, valued at approximately $583,000.
A number of other hedge funds also recently made changes to their positions in EBMT. Spark Investment Management LLC bought a new stake in shares of Eagle Bancorp Montana during the first quarter valued at about $202,000. US Bancorp DE bought a new stake in shares of Eagle Bancorp Montana during the second quarter valued at about $251,000. Context BH Capital Management LP bought a new stake in shares of Eagle Bancorp Montana during the first quarter valued at about $303,000. Stockman Wealth Management Inc. increased its stake in shares of Eagle Bancorp Montana by 8.7% in the first quarter. Stockman Wealth Management Inc. now owns 16,283 shares of the bank’s stock valued at $324,000 after buying an additional 1,300 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Eagle Bancorp Montana during the fourth quarter valued at about $348,000. Hedge funds and other institutional investors own 29.99% of the company’s stock.
Shares of Eagle Bancorp Montana, Inc. (NASDAQ:EBMT) opened at 18.40 on Thursday. Eagle Bancorp Montana, Inc. has a one year low of $13.42 and a one year high of $24.00. The firm has a market capitalization of $70.12 million, a P/E ratio of 14.15 and a beta of 0.35. The company has a 50-day moving average price of $18.24 and a 200 day moving average price of $19.11.
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 consensus estimate of $0.38 by $0.11. Eagle Bancorp Montana had a net margin of 12.06% and a return on equity of 8.44%. The business had revenue of $9.45 million during the quarter, compared to analyst estimates of $9.60 million. Analysts expect that Eagle Bancorp Montana, Inc. will post $1.22 earnings per share for the current fiscal year.
Eagle Bancorp Montana announced that its board has initiated a stock repurchase plan on Friday, July 21st that allows the company to repurchase 100,000 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 9th. This is a positive change from Eagle Bancorp Montana’s previous quarterly dividend of $0.08. Eagle Bancorp Montana’s payout ratio is presently 24.62%.
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Several brokerages recently issued reports on EBMT. Zacks Investment Research downgraded Eagle Bancorp Montana from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. TheStreet downgraded Eagle Bancorp Montana from a “c-” rating to a “d” rating in a report on Monday, July 24th.
Eagle Bancorp Montana Company Profile
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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