Eagle Bancorp Montana, Inc. (EBMT Quick QuoteEBMT - Free Report) shares ended the last trading session 6.4% higher at $24.60. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.8% gain over the past four weeks.

The stock has been gaining since the last six days. In fact, it reached a new 52-week high of $24.95 in last day's trading session. Increasing investor optimism over the accelerated recovery of the banking industry on the back of the extensive vaccination drive and an expectation of robust economic growth has been driving the stock higher. Moreover, the continued growing demand for mortgage originations as well as refinancing, driven by historically low rates has been aiding the mortgage banking industry. 

Price and Consensus

This company is expected to post quarterly earnings of $0.94 per share in its upcoming report, which represents a year-over-year change of +59.3%. Revenues are expected to be $24.7 million, up 31.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Eagle Bancorp Montana, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EBMT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>