Home Bancorp (NASDAQ:HBCP) Sets New 12-Month High – Here’s Why

Home Bancorp, Inc. (NASDAQ:HBCP)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $69.40 and last traded at $69.36, with a volume of 230374 shares traded. The stock had previously closed at $67.59.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HBCP shares. Hovde Group increased their price objective on Home Bancorp from $62.00 to $65.50 and gave the company a “market perform” rating in a research report on Wednesday, April 22nd. Piper Sandler lowered Home Bancorp from an “overweight” rating to a “neutral” rating and set a $69.00 price target on the stock. in a research note on Wednesday, April 22nd. Weiss Ratings raised Home Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 4th. Finally, Zacks Research lowered Home Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Home Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Home Bancorp Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $543.78 million, a P/E ratio of 11.66 and a beta of 0.50. The company has a 50-day moving average price of $64.79 and a 200-day moving average price of $61.94.

Home Bancorp (NASDAQ:HBCP) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Home Bancorp had a return on equity of 10.86% and a net margin of 22.18%.The business had revenue of $38.22 million during the quarter, compared to the consensus estimate of $33.63 million. During the same quarter in the prior year, the company posted $1.37 earnings per share. On average, sell-side analysts predict that Home Bancorp, Inc. will post 5.98 earnings per share for the current year.

Home Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, May 4th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Home Bancorp’s payout ratio is currently 20.84%.

Insider Activity

In related news, Director Daniel G. Guidry sold 1,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $64.50, for a total value of $64,500.00. Following the completion of the sale, the director owned 64,019 shares in the company, valued at $4,129,225.50. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John J. Iv Zollinger sold 867 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $62.77, for a total value of $54,421.59. Following the sale, the executive vice president directly owned 7,643 shares in the company, valued at $479,751.11. The trade was a 10.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,653 shares of company stock worth $359,063 in the last ninety days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Home Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its stake in Home Bancorp by 11.8% during the 1st quarter. Royal Bank of Canada now owns 5,771 shares of the bank’s stock worth $258,000 after purchasing an additional 607 shares in the last quarter. AQR Capital Management LLC lifted its stake in Home Bancorp by 80.7% in the first quarter. AQR Capital Management LLC now owns 12,258 shares of the bank’s stock valued at $549,000 after buying an additional 5,476 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Home Bancorp by 7.3% in the first quarter. Empowered Funds LLC now owns 33,749 shares of the bank’s stock valued at $1,512,000 after buying an additional 2,301 shares during the period. Jane Street Group LLC acquired a new position in shares of Home Bancorp in the first quarter valued at approximately $612,000. Finally, JPMorgan Chase & Co. increased its position in shares of Home Bancorp by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 21,669 shares of the bank’s stock worth $1,122,000 after acquiring an additional 1,878 shares in the last quarter. 49.41% of the stock is currently owned by institutional investors and hedge funds.

About Home Bancorp

Home Bancorp, Inc is the bank holding company for The Home National Bank, a full-service financial institution headquartered in Lafayette, Louisiana. The company operates as a regional commercial bank serving individuals, small businesses and municipalities across Louisiana and East Texas. Through its network of branches and digital banking platforms, Home Bancorp offers a range of deposit and lending solutions designed to meet the needs of its local markets.

The company’s core offerings include retail deposit products such as checking, savings and money market accounts, as well as a variety of commercial and consumer lending services.