Bank of New York Mellon Corp Takes Position in Home Bancorp, Inc. $HBCP

Key Points

• Bank of New York Mellon acquired 35,446 shares of Home Bancorp worth approximately $2.43 million, representing a 0.45% stake. Institutional investors collectively own 49.41% of the company.
• Home Bancorp reported quarterly earnings of $1.48 per share, exceeding estimates of $1.46, while revenue of $39.72 million also topped expectations. Analysts give the stock a “Moderate Buy” consensus rating with a $69.50 target price.
• The company raised its quarterly dividend from $0.31 to $0.32 per share, equivalent to an annualized dividend of $1.28 and a 1.8% yield. An executive separately sold 750 shares for $53,760.

Bank of New York Mellon Corp bought a new position in Home Bancorp, Inc. (NASDAQ:HBCP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 35,446 shares of the bank's stock, valued at approximately $2,429,000. Bank of New York Mellon Corp owned 0.45% of Home Bancorp as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of HBCP. Raymond James Financial Inc. bought a new stake in Home Bancorp in the second quarter worth about $46,000. Tower Research Capital LLC TRC grew 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 buying an additional 769 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Home Bancorp during the fourth quarter valued at approximately $202,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Home Bancorp in the fourth quarter worth approximately $208,000. Finally, Mariner LLC purchased a new stake in shares of Home Bancorp in the fourth quarter worth approximately $211,000. Institutional investors own 49.41% of the company's stock.

Insider Activity at Home Bancorp

In other news, EVP John Zollinger, IV sold 750 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $71.68, for a total transaction of $53,760.00. Following the completion of the sale, the executive vice president owned 7,643 shares in the company, valued at approximately $547,850.24. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company's stock.

Analyst Upgrades and Downgrades

HBCP has been the subject of a number of research analyst reports. Weiss Ratings reissued a "buy (a-)" rating on shares of Home Bancorp in a research note on Friday, July 31st. Raymond James Financial restated an "outperform" rating and issued a $74.00 price target on shares of Home Bancorp in a report on Wednesday, July 22nd. 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 company's stock. According to MarketBeat.com, Home Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $69.50.

Home Bancorp Price Performance

Shares of HBCP stock opened at $70.36 on Tuesday. The company has a market cap of $551.62 million, a P/E ratio of 11.77 and a beta of 0.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.97 and a quick ratio of 0.97. The stock's 50-day moving average is $70.03 and its 200 day moving average is $65.51. Home Bancorp, Inc. has a 1-year low of $50.54 and a 1-year high of $74.50.

Home Bancorp (NASDAQ:HBCP - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The bank reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.02. Home Bancorp had a net margin of 22.23% and a return on equity of 10.65%. The business had revenue of $39.72 million for the quarter, compared to analysts' expectations of $38.57 million. Research analysts predict that Home Bancorp, Inc. will post 5.98 earnings per share for the current fiscal year.

Home Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is a boost from Home Bancorp's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. Home Bancorp's payout ratio is currently 21.40%.

Home Bancorp Profile

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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