Home Bancorp (NASDAQ:HBCP) Sees Large Volume Increase on Better-Than-Expected Earnings

Home Bancorp, Inc. (NASDAQ:HBCPGet Free Report) saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. Approximately 121,145 shares changed hands during trading, an increase of 38% from the previous session’s volume of 87,576 shares.The stock last traded at $68.8150 and had previously closed at $68.37.

The bank reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Home Bancorp had a net margin of 22.23% and a return on equity of 10.77%. The firm had revenue of $39.72 million for the quarter, compared to the consensus estimate of $38.57 million.

Home Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. This is a boost from Home Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, August 3rd. Home Bancorp’s dividend payout ratio is presently 20.74%.

Trending Headlines about Home Bancorp

Here are the key news stories impacting Home Bancorp this week:

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research cut Home Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings upgraded Home Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 4th. Hovde Group upped their price target on shares of 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 cut shares of Home Bancorp from an “overweight” rating to a “neutral” rating and set a $69.00 price objective on the stock. in a research note on Wednesday, April 22nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $74.00 price objective on shares of Home Bancorp in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

View Our Latest Report on Home Bancorp

Insider Activity

In other news, EVP Darren E. Guidry sold 1,600 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $62.78, for a total value of $100,448.00. Following the completion of the sale, the executive vice president directly owned 18,530 shares of the company’s stock, valued at $1,163,313.40. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel G. Guidry sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $65.01, for a total transaction of $65,010.00. Following the sale, the director owned 63,519 shares in the company, valued at $4,129,370.19. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,653 shares of company stock worth $359,063 in the last quarter. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Home Bancorp

A number of institutional investors have recently bought and sold shares of HBCP. Raymond James Financial Inc. bought a new stake in Home Bancorp in the 2nd quarter valued at $46,000. Tower Research Capital LLC TRC boosted its stake in shares of Home Bancorp by 116.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,430 shares of the bank’s stock valued at $74,000 after purchasing an additional 769 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of Home Bancorp during the fourth quarter worth approximately $202,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Home Bancorp in the 4th quarter worth $208,000. Finally, Mariner LLC purchased a new stake in Home Bancorp in the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 49.41% of the company’s stock.

Home Bancorp Trading Up 0.7%

The stock has a market capitalization of $543.16 million, a P/E ratio of 11.59 and a beta of 0.49. The stock’s 50 day moving average price is $66.79 and its 200-day moving average price is $63.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12.

Home Bancorp Company Profile

(Get Free Report)

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.

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