HomeTrust Bancshares (NYSE:HTB) Sets New 12-Month High – Here’s Why

HomeTrust Bancshares, Inc. (NYSE:HTB)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $49.76 and last traded at $49.5090, with a volume of 166241 shares trading hands. The stock had previously closed at $49.04.

Analysts Set New Price Targets

HTB has been the topic of a number of research reports. Hovde Group boosted their target price on shares of HomeTrust Bancshares from $46.50 to $47.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Wall Street Zen raised HomeTrust Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, HomeTrust Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

HomeTrust Bancshares Trading Up 1.7%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.08. The company’s 50-day moving average price is $46.91. The firm has a market cap of $852.57 million, a P/E ratio of 13.11 and a beta of 0.80.

HomeTrust Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.2%. This is a boost from HomeTrust Bancshares’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, May 14th. HomeTrust Bancshares’s payout ratio is presently 15.50%.

Insider Activity at HomeTrust Bancshares

In related news, CEO Hunter Westbrook sold 3,904 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $46.17, for a total transaction of $180,247.68. Following the transaction, the chief executive officer directly owned 105,828 shares of the company’s stock, valued at $4,886,078.76. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristin Y. Powell sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $46.78, for a total transaction of $46,780.00. Following the completion of the sale, the executive vice president owned 21,595 shares of the company’s stock, valued at $1,010,214.10. The trade was a 4.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 61,000 shares of company stock valued at $2,794,550. Insiders own 11.02% of the company’s stock.

Hedge Funds Weigh In On HomeTrust Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new stake in HomeTrust Bancshares in the 1st quarter valued at about $35,667,000. Renaissance Technologies LLC acquired a new stake in HomeTrust Bancshares in the first quarter valued at approximately $19,884,000. Empowered Funds LLC bought a new stake in shares of HomeTrust Bancshares during the first quarter valued at approximately $3,255,000. Bank of New York Mellon Corp purchased a new position in shares of HomeTrust Bancshares during the first quarter valued at approximately $2,926,000. Finally, Rosenthal Henry Capital Advisors Inc. bought a new stake in HomeTrust Bancshares during the first quarter worth $2,135,000. Institutional investors own 60.94% of the company’s stock.

About HomeTrust Bancshares

HomeTrust Bancshares, Inc is the bank holding company for HomeTrust Bank, a regional community bank that provides a range of commercial and consumer banking services. Through its subsidiary bank, the company offers traditional deposit and lending products, including checking and savings accounts, certificates of deposit, residential mortgages, home equity lending, and business loans. HomeTrust also delivers treasury management and payment services for small and midsize businesses, along with digital banking tools to support day-to-day account access and payments.

The company’s product set extends beyond core banking to include wealth management and trust services, commercial real estate financing, and specialized lending for agriculture and construction where relevant to local markets.