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Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 49.8GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
6.7%
Sector: 8.5%
Dividend Analysis audit
INCOME
3.31%
Trailing Yield
$3.31
Per $100 Invested
Solid dividend yield for income-focused strategies.
Est. Payout Ratio
44%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, Eagle Bancorp Montana, Inc. (EBMT) receives a "Hold" rating with a composite score of 53.3/100, ranked #656 out of 4446 stocks. Key factor scores: Quality 50/100, Value 71/100, Momentum 59/100. This is quantitative analysis only — not investment advice.
Eagle Bancorp Montana, Inc. (EBMT) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Eagle Bancorp Montana, Inc. Do?
Eagle Bancorp Montana, Inc. operates as the bank holding company for Opportunity Bank of Montana that provides various retail banking products and services to small businesses and individuals in Montana. It accepts various deposit products, such as checking, savings, money market, and individual retirement accounts, as well as certificates of deposit accounts. The company also provides 1-4 family residential mortgage loans, such as residential mortgages and construction of residential properties; commercial real estate loans, including multi-family dwellings, nonresidential property, commercial construction and development, and farmland loans; and second mortgage/home equity loans. In addition, it offers consumer loans, such as loans secured by collateral other than real estate, such as automobiles, recreational vehicles, and boats; personal loans and lines of credit; commercial business loans consisting of business loans and lines of credit on a secured and unsecured basis; construction loans; agricultural loans; and mortgage loan services. The company operates 23 full-service branches, 1 community banking office, and 25 automated teller machines. Eagle Bancorp Montana, Inc. was founded in 1922 and is headquartered in Helena, Montana. Eagle Bancorp Montana, Inc. (EBMT) is classified as a micro-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO Peter J. Johnson and employs approximately 350 people, headquartered in Helena, Montana. With a market capitalization of $166M, EBMT is one of the notable companies in the Financials sector.
Eagle Bancorp Montana, Inc. (EBMT) Stock Rating — Hold (April 2026)
As of April 2026, Eagle Bancorp Montana, Inc. receives a Hold rating with a composite score of 53.3/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.EBMT ranks #656 out of 4,446 stocks in our coverage universe. Within the Financials sector, Eagle Bancorp Montana, Inc. ranks #195 of 891 stocks, placing it in the top quartile of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
EBMT Stock Price and 52-Week Range
Eagle Bancorp Montana, Inc. (EBMT) currently trades at $22.00. The stock lost $0.26 (1.2%) in the most recent trading session. The 52-week high for EBMT is $23.75, which means the stock is currently trading -7.4% from its annual peak. The 52-week low is $15.10, putting the stock 45.7% above its annual trough. Recent trading volume was 21K shares, suggesting relatively thin trading activity.
Is EBMT Overvalued or Undervalued? — Valuation Analysis
Eagle Bancorp Montana, Inc. (EBMT) carries a value factor score of 71/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 13.26x, compared to the Financials sector average of 14.88x — a discount of 11%. The price-to-book ratio stands at 0.89x, versus the sector average of 1.22x. The price-to-sales ratio is 1.58x, compared to 0.90x for the average Financials stock. On an enterprise value basis, EBMT trades at 13.35x EV/EBITDA, versus 3.26x for the sector.
Based on these multiples, Eagle Bancorp Montana, Inc. appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
Eagle Bancorp Montana, Inc. Profitability — ROE, Margins, and Quality Score
Eagle Bancorp Montana, Inc. (EBMT) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 6.7%, compared to the Financials sector average of 8.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 0.6% versus the sector average of 1.2%.
On a margin basis, Eagle Bancorp Montana, Inc. reports gross margins of 0.0%. The operating margin is 14.9% (sector: 21.8%). Net profit margin stands at 11.9%, versus 17.7% for the average Financials stock. Revenue growth is running at 7.8% on a trailing basis, compared to 9.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
EBMT Debt, Balance Sheet, and Financial Health
Eagle Bancorp Montana, Inc. has a debt-to-equity ratio of 23.0%, compared to the Financials sector average of 121.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 1.10x, suggesting adequate working capital coverage. Total debt on the balance sheet is $44M. Cash and equivalents stand at $25M.
EBMT has a beta of 0.57, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Eagle Bancorp Montana, Inc. is 88/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
Eagle Bancorp Montana, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Eagle Bancorp Montana, Inc. reported revenue of $108M and earnings per share (EPS) of $1.90. Net income for the quarter was $13M. Gross margin was 0.0%. Operating income came in at $16M.
In FY 2025, Eagle Bancorp Montana, Inc. reported revenue of $108M and earnings per share (EPS) of $1.90. Net income for the quarter was $15M. Revenue grew 4.0% year-over-year compared to FY 2024. Operating income came in at $19M.
In Q3 2025, Eagle Bancorp Montana, Inc. reported revenue of $28M and earnings per share (EPS) of $0.47. Net income for the quarter was $4M. Revenue grew 4.0% year-over-year compared to Q3 2024. Operating income came in at $5M.
In Q2 2025, Eagle Bancorp Montana, Inc. reported revenue of $27M and earnings per share (EPS) of $0.42. Net income for the quarter was $3M. Revenue grew 5.1% year-over-year compared to Q2 2024. Operating income came in at $4M.
Over the past 8 quarters, Eagle Bancorp Montana, Inc. has demonstrated a growth trajectory, with revenue expanding from $26M to $108M. Investors analyzing EBMT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
EBMT Dividend Yield and Income Analysis
Eagle Bancorp Montana, Inc. (EBMT) currently pays a dividend yield of 3.3%. At this yield, a $10,000 investment in EBMT stock would generate approximately $$331.00 in annual dividend income. This compares to the Financials sector average dividend yield of 2.5%, meaning EBMT offers above-average income for its sector. The net margin of 11.9% provides reasonable coverage for the dividend, though investors should monitor payout sustainability.
EBMT Momentum and Technical Analysis Profile
Eagle Bancorp Montana, Inc. (EBMT) has a momentum factor score of 59/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 30/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 11/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
EBMT vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing EBMT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full EBMT vs S&P 500 (SPY) comparison to assess how Eagle Bancorp Montana, Inc. stacks up against the broader market across all factor dimensions.
EBMT Next Earnings Date
No upcoming earnings date has been announced for Eagle Bancorp Montana, Inc. (EBMT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy EBMT? — Investment Thesis Summary
Eagle Bancorp Montana, Inc. presents a balanced picture with arguments on both sides. The value score of 71/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 88/100) reduces downside risk.
In summary, Eagle Bancorp Montana, Inc. (EBMT) earns a Hold rating with a composite score of 53.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on EBMT stock.
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Institutional Research Dossier
Eagle Bancorp Montana, Inc. (EBMT) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain a Hold rating on Eagle Bancorp Montana (EBMT). While the bank exhibits attractive valuation metrics relative to its sector, particularly its lower P/E and EV/EBITDA ratios, its weaker profitability and growth metrics, coupled with a low Investment score in our quant model, temper our enthusiasm. The bank's stability, as reflected in its high Stability score, offers a degree of downside protection, but overall, the risk-reward profile appears balanced, warranting a neutral stance.
The primary concern revolves around EBMT's ability to generate superior returns and growth compared to its peers. Its lower ROE, operating margin, net margin, and revenue growth compared to the financial sector suggest potential challenges in achieving sustained outperformance. While the bank's strong capital position and low debt-to-equity ratio provide financial flexibility, improvements in profitability and growth are necessary to justify a more bullish outlook.
Business Strategy & Overview
Eagle Bancorp Montana operates as a community bank, primarily serving small businesses and individuals in Montana through its Opportunity Bank of Montana subsidiary. The bank's core strategy revolves around providing traditional banking products and services, including deposit accounts, residential mortgages, commercial real estate loans, and consumer loans. Its focus on the Montana market allows it to develop strong relationships with local customers and tailor its offerings to meet their specific needs. The company operates a network of 23 full-service branches, 1 community banking office, and 25 ATMs, providing convenient access to its services across the state.
A key aspect of EBMT's strategy is its emphasis on relationship banking. By building close relationships with its customers, the bank aims to foster loyalty and generate repeat business. This approach is particularly important in the community banking sector, where personal service and local knowledge are highly valued. The bank also focuses on providing a range of loan products to meet the diverse needs of its customers, including residential mortgages, commercial real estate loans, and consumer loans. This diversification helps to mitigate risk and provides multiple avenues for growth.
The bank's strategic positioning within Montana is crucial to its success. Montana's economy is characterized by a mix of agriculture, tourism, and natural resource industries. EBMT's understanding of the local market dynamics and its ability to cater to the specific needs of these industries provide it with a competitive advantage. The bank's focus on small businesses is also a key differentiator, as these businesses often have difficulty accessing financing from larger, national banks.
Looking ahead, EBMT's strategy will likely involve continued expansion within Montana, both organically and through potential acquisitions. The bank may also explore opportunities to enhance its digital banking capabilities to better serve its customers and improve efficiency. However, it is important for the bank to maintain its focus on relationship banking and local knowledge, as these are key drivers of its success.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
7.8%
Sector: 9.4%
-17% VS SCTR
Economic Moat Analysis
Eagle Bancorp Montana's economic moat can be classified as Narrow. While the bank benefits from certain advantages inherent in the community banking model, these advantages are not strong enough to create a wide and sustainable competitive edge. The primary source of EBMT's moat is its strong local presence and established relationships within the Montana market. This local expertise and customer loyalty create a degree of switching costs, as customers may be hesitant to move their accounts to a larger, less personalized bank.
However, the banking industry is highly competitive, and EBMT faces competition from other community banks, regional banks, and national banks. These competitors offer similar products and services, and customers can easily switch banks if they find a better deal or a more convenient location. Furthermore, the rise of online banking and fintech companies has increased competition and reduced the importance of physical branches.
EBMT's brand recognition within Montana is another potential source of competitive advantage. The bank has been operating in the state for many years and has built a reputation for providing reliable and personalized service. However, brand recognition alone is not enough to create a wide moat, as other banks can also build strong brands through marketing and customer service.
The bank's efficient scale, while present, is not a significant moat driver. While community banks can operate efficiently within their local markets, they do not typically achieve the economies of scale that larger banks enjoy. This limits their ability to offer lower prices or invest heavily in technology and innovation.
Overall, EBMT's narrow moat is based on its local presence, customer relationships, and brand recognition within Montana. However, the bank faces significant competition and must continue to innovate and provide excellent customer service to maintain its competitive position. The lack of significant switching costs and the presence of numerous competitors limit the bank's ability to generate consistently superior returns.
Financial Health & Profitability
Eagle Bancorp Montana's financial health presents a mixed picture. The company has demonstrated consistent revenue growth over the past few years, with revenue increasing from $91.61 million in FY2023 to $108.41 million in FY2025. This growth is a positive sign, indicating that the bank is successfully expanding its business and attracting new customers. However, the company's profitability metrics, such as ROE, operating margin, and net margin, are lower than the sector averages, suggesting potential areas for improvement.
Specifically, EBMT's ROE of 6.7% is significantly lower than the sector average of 8.5%. This indicates that the bank is not generating as much profit from its equity as its peers. Similarly, the bank's operating margin of 14.9% and net margin of 11.9% are also lower than the sector averages of 22.0% and 17.8%, respectively. These lower margins suggest that the bank may be facing challenges in controlling its expenses or generating sufficient revenue from its assets.
The company's balance sheet appears to be in good shape, with a current ratio of 1.10 and a relatively low debt-to-equity ratio of 23.00. This indicates that the bank has sufficient liquidity to meet its short-term obligations and is not overly leveraged. The low debt-to-equity ratio also provides the bank with financial flexibility to pursue growth opportunities or weather economic downturns.
Analyzing the quarterly financial history reveals a trend of increasing revenue and net income over the past few years. However, the operating margin has fluctuated, indicating potential volatility in the bank's profitability. It is important for the bank to focus on improving its operating efficiency and controlling its expenses to achieve more consistent profitability.
The bank's free cash flow generation is strong, with a free cash flow of $134.72 million. This provides the bank with ample resources to invest in its business, pay dividends, or repurchase shares. Overall, EBMT's financial health is stable, but there is room for improvement in its profitability metrics. The bank's strong balance sheet and free cash flow generation provide it with a solid foundation for future growth.
Valuation Assessment
Eagle Bancorp Montana's valuation appears attractive relative to its sector, but a deeper analysis is warranted. The company's P/E ratio of 10.7x is significantly lower than the sector average of 15.5x, suggesting that the stock may be undervalued. Similarly, the company's EV/EBITDA ratio of 2.7x is also lower than the sector average of 3.5x, further supporting the notion that the stock is trading at a discount.
However, it is important to consider the company's growth prospects and profitability when assessing its valuation. EBMT's revenue growth of 7.8% is slightly lower than the sector average of 9.3%, indicating that the company is not growing as quickly as its peers. Furthermore, the company's ROE of 6.7% is significantly lower than the sector average of 8.5%, suggesting that the company is not generating as much profit from its equity as its peers.
Given the company's lower growth and profitability, it is reasonable to expect a lower valuation multiple. However, the magnitude of the discount may be excessive, particularly considering the company's strong balance sheet and free cash flow generation. The market may be undervaluing the company's potential for future growth and profitability improvements.
A discounted cash flow (DCF) analysis would be helpful in determining the intrinsic value of the stock. However, without detailed projections of future cash flows, it is difficult to perform a reliable DCF analysis. Based on the available information, it appears that EBMT is trading at a fair valuation, considering its growth prospects and profitability. The lower valuation multiples relative to the sector may reflect the market's concerns about the company's ability to generate sustained outperformance.
Overall, EBMT's valuation is attractive relative to its sector, but a deeper analysis is warranted. The company's lower growth and profitability justify a lower valuation multiple, but the magnitude of the discount may be excessive. The stock appears to be fairly valued, considering its growth prospects and profitability.
Risk & Uncertainty
Eagle Bancorp Montana faces several risks and uncertainties that could impact its future performance. One of the primary risks is the potential for increased competition in the Montana banking market. As the economy grows and new banks enter the market, EBMT may face increased pressure on its margins and market share. The rise of online banking and fintech companies also poses a threat, as these companies can offer lower prices and more convenient services.
Another risk is the potential for economic downturns in Montana. The state's economy is heavily reliant on agriculture, tourism, and natural resource industries, which are all susceptible to economic fluctuations. A decline in these industries could lead to increased loan losses and reduced profitability for EBMT.
Regulatory changes also pose a risk to the bank. Changes in banking regulations could increase compliance costs and limit the bank's ability to generate revenue. For example, changes in capital requirements or lending regulations could impact the bank's profitability and growth prospects.
Interest rate risk is another significant concern. As a bank, EBMT is exposed to the risk that changes in interest rates could negatively impact its net interest margin. If interest rates rise, the bank's funding costs may increase more quickly than its lending rates, leading to a decline in profitability.
Finally, the bank's reliance on the Montana market is a concentration risk. A significant economic downturn or regulatory change in Montana could have a disproportionate impact on EBMT's performance. Diversifying its operations beyond Montana could help to mitigate this risk.
Bulls Say / Bears Say
The Bull Case
BULL VIEWEBMT's low P/E and EV/EBITDA ratios compared to the sector indicate it's undervalued, offering a potential buying opportunity.
BULL VIEWThe bank's strong stability score and low debt-to-equity ratio provide downside protection and financial flexibility for future growth.
BULL VIEWEBMT's focus on the Montana market and relationship banking creates a loyal customer base and a sustainable competitive advantage.
The Bear Case
BEAR VIEWEBMT's lower ROE, operating margin, and net margin compared to the sector suggest it's less profitable and efficient than its peers.
BEAR VIEWThe bank's slower revenue growth compared to the sector indicates it's losing market share or failing to capitalize on growth opportunities.
BEAR VIEWEBMT's concentration in the Montana market exposes it to significant economic and regulatory risks specific to the region.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score EBMT and 4,400+ other equities.
Eagle Bancorp Montana, Inc. exhibits a 87% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
0.6%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
14.9%
Sector: 21.8%
Net Margin
Bottom-line profitability
11.9%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield2.48%
Yield Delta+33%
Income Projection audit
A $10,000 investment would generate approximately $331 annually in dividends at the current trailing rate.
