Goldman Sachs Group Inc. Trims Position in Home Bancorp, Inc. $HBCP

Key Points

• Goldman Sachs Group Inc. reduced its stake in Home Bancorp by 16.4%, selling 6,262 shares and now owning 31,813 shares valued at approximately $1.425 million as of the latest SEC filing.
• Home Bancorp reported a quarterly earnings per share of $1.45, exceeding analyst expectations, while also announcing an increase in its quarterly dividend from $0.27 to $0.29 per share, contributing to a yield of 2.1%.
• Analyst ratings for Home Bancorp are mixed, with two analysts giving a "Buy" rating and two others a "Hold," while the average price target has increased to $59.50 following a report by Raymond James Financial.

Goldman Sachs Group Inc. lessened its holdings in Home Bancorp, Inc. (NASDAQ:HBCP - Free Report) by 16.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,813 shares of the bank's stock after selling 6,262 shares during the period. Goldman Sachs Group Inc. owned about 0.41% of Home Bancorp worth $1,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Montz Harcus Wealth Management LLC grew its holdings in shares of Home Bancorp by 288.5% during the 1st quarter. Montz Harcus Wealth Management LLC now owns 113,065 shares of the bank's stock valued at $5,065,000 after purchasing an additional 83,965 shares during the last quarter. GAMMA Investing LLC increased its holdings in Home Bancorp by 5,285.9% in the first quarter. GAMMA Investing LLC now owns 48,742 shares of the bank's stock worth $21,840,000 after purchasing an additional 47,837 shares in the last quarter. American Century Companies Inc. lifted its stake in Home Bancorp by 36.0% in the first quarter. American Century Companies Inc. now owns 104,846 shares of the bank's stock valued at $4,697,000 after buying an additional 27,778 shares during the period. Millennium Management LLC bought a new position in shares of Home Bancorp during the 4th quarter worth approximately $919,000. Finally, Nuveen LLC acquired a new stake in shares of Home Bancorp during the 1st quarter worth approximately $815,000. Institutional investors own 49.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Zacks Research downgraded shares of Home Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Raymond James Financial upped their price objective on shares of Home Bancorp from $52.00 to $62.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Home Bancorp presently has an average rating of "Moderate Buy" and an average target price of $59.50.

Home Bancorp Stock Down 1.0%

Home Bancorp stock traded down $0.54 during midday trading on Monday, hitting $55.53. 19,598 shares of the stock were exchanged, compared to its average volume of 35,262. Home Bancorp, Inc. has a 52-week low of $39.59 and a 52-week high of $61.07. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The business's 50-day moving average price is $54.67 and its 200-day moving average price is $50.64. The stock has a market capitalization of $434.24 million, a price-to-earnings ratio of 10.66 and a beta of 0.63.

Home Bancorp (NASDAQ:HBCP - Get Free Report) last released its earnings results on Monday, July 21st. The bank reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.21. The company had revenue of $37.07 million during the quarter, compared to analyst estimates of $32.07 million. Home Bancorp had a return on equity of 10.34% and a net margin of 20.09%. On average, research analysts expect that Home Bancorp, Inc. will post 4.78 EPS for the current fiscal year.

Home Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, August 4th. This is a positive change from Home Bancorp's previous quarterly dividend of $0.27. Home Bancorp's dividend payout ratio is currently 22.26%.

About Home Bancorp

Home Bancorp, Inc operates as the bank holding company for Home Bank, National Association that provides various banking products and services in Louisiana, Mississippi, and Texas. It offers deposit products, including interest-bearing and noninterest-bearing checking, money market, savings, NOW, and certificates of deposit accounts.