Thomas J. McCarvel, a director at Eagle Bancorp (NASDAQ:EGBN) Montana, Inc. (NASDAQ:EBMT), recently sold shares in the company. According to a recent filing, McCarvel sold a total of 1,090 shares of common stock on November 12, 2024, at a price of $17 per share, amounting to a total transaction value of $18,530. This sale was noted as being made to meet an IRA withdrawal requirement for additional cash. Following this transaction, McCarvel retains ownership of 38,417 shares in the company.
In other recent news, Eagle Bancorp Montana reported an increase in its third-quarter earnings for 2024, with a net income of $2.7 million, or $0.34 per diluted share. This marks an improvement from previous quarters and is slightly above the figures from the same quarter in 2023. Despite a year-over-year decline in net income for the first nine months of 2024, the company's board declared a quarterly cash dividend of $0.1425 per share.
In addition, Eagle Bancorp Montana is reportedly engaged in discussions about potential merger and acquisition opportunities. The bank's solid credit quality and effective expense management efforts have been noted. DA Davidson, an analyst firm, has increased the bank's price target to $18.00 from the previous $17.00, maintaining a neutral rating on the stock.
Furthermore, the bank has announced amendments to the compensation agreements for three of its top executives, effective from November 1, 2024. Laura F. Clark, the President and CEO, will see her annual benefit increase from $26,500 to $46,000. Miranda J. Spaulding, the Senior Vice President and CFO, will have her annual benefit raised from $95,000 to $99,500, while Dale F. Field, the Senior Vice President and Chief Credit Officer, will receive an increase in his annual benefit from $70,000 to $89,000. These are among the recent developments for Eagle Bancorp Montana.
InvestingPro Insights
Eagle Bancorp Montana, Inc. (NASDAQ:EBMT) has shown resilience in its financial performance, despite recent insider selling activity. According to InvestingPro data, the company boasts a market capitalization of $133.07 million and a price-to-earnings ratio of 15.6, suggesting a relatively moderate valuation compared to industry peers.
Investors should note that EBMT has maintained dividend payments for 25 consecutive years, demonstrating a commitment to shareholder returns. This is further emphasized by the current dividend yield of 3.35%, which may be attractive to income-focused investors. An InvestingPro Tip highlights that the company has raised its dividend for 13 consecutive years, underlining its consistent dividend growth strategy.
The stock has shown strong performance recently, with a 29.07% price total return over the past three months and an impressive 52.46% return over the last year. This positive momentum is reflected in another InvestingPro Tip, which points out the large price uptick over the last six months.
It's worth noting that InvestingPro offers 11 additional tips for EBMT, providing investors with a more comprehensive analysis of the company's financial health and market position. These insights can be particularly valuable when considering the context of recent insider transactions and the company's long-term performance.
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