Eagle Bancorp Stock Price, News & Analysis

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) announced the results of its modified Dutch auction tender offer to buy back up to $6,000,000 worth of common stock at a price of $24.00 to $26.25 per share, which concluded on June 22, 2021. A total of 846,965 shares were tendered, leading to a pro rata acceptance of 250,000 shares at $24.00 per share due to oversubscription. This buyback constitutes approximately 3.7% of its outstanding shares, and the total purchase price is around $6,000,000, excluding related fees.

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) announced preliminary results of its modified Dutch auction tender offer to buy up to $6,000,000 of its common stock at prices ranging from $24.00 to $26.25 per share. Approximately 847,776 shares were tendered, with the company expecting to acquire around 250,000 shares at $24.00 each. This represents approximately 3.7% of outstanding shares. Additionally, 251,256 shares were sold to the Opportunity Bank of Montana Employee Stock Ownership Plan at $23.88 per share. Further announcements regarding final purchase prices will follow after verification.

Eagle Bancorp Montana (NASDAQ: EBMT) has initiated a modified "Dutch auction" tender offer to repurchase up to $6 million of its common stock. The offer price ranges from $24.00 to $26.25 per share, representing a 13.20% premium based on the recent trading average. The Tender Offer will expire on June 22, 2021, with an estimated purchase of 228,571 to 250,000 shares, which is approximately 3.37% to 3.69% of the outstanding stock. This move aims to mitigate earnings per share dilution resulting from a planned share sale to the Opportunity Bank of Montana Employee Stock Ownership Plan.

Eagle Bancorp Montana (NASDAQ: EBMT) reported a net income of $5.3 million for Q1 2021, up 34.1% from $3.9 million a year ago, translating to $0.78 per diluted share. The bank declared a quarterly cash dividend of $0.0975, payable June 4, 2021. Total deposits rose by 23.1% to $1.09 billion, with a notable contribution from PPP loans and federal stimulus payments. However, net interest margin slightly declined to 3.97%. The company remains well-capitalized, indicating a solid financial position amidst ongoing pandemic challenges.

Eagle Bancorp Montana (NASDAQ: EBMT) reported a remarkable 121% increase in net income for Q4 2020, reaching $5.2 million or $0.76 per diluted share, up from $2.3 million or $0.36 year-over-year. Total revenues rose 42.9% to $23.6 million compared to Q4 2019. For the full year, net income nearly doubled to $21.2 million or $3.11 per diluted share. The board declared a quarterly cash dividend of $0.0975 per share, yielding 1.75%.

Despite strong performance, the company faced economic challenges from the COVID-19 pandemic.

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported a significant increase in net income for Q3 2020, rising 55.4% to $6.4 million ($0.94 per diluted share), driven by strong mortgage banking performance and loan sales. Year-to-date, net income surged 88.0% to $16.0 million ($2.35 per diluted share). A quarterly cash dividend of $0.0975 per share was declared, payable on December 4, 2020. Despite COVID-19 challenges, total loans and deposits increased by 12.6% and 26.5%, respectively, highlighting robust financial health and a strong loan pipeline.

Eagle Bancorp Montana, Inc. (Nasdaq: EBMT) announced the successful sale of $15 million in subordinated notes to accredited investors on June 10, 2020. These notes, maturing on July 1, 2030, will carry a fixed interest rate of 5.5% until July 1, 2025, transitioning to a floating rate thereafter. The net proceeds of approximately $14.7 million will enhance regulatory capital and help refinance existing notes due in 2025. CEO Peter J. Johnson emphasized this move as a cost-effective way to strengthen capital and support business growth amid increasing client demand.