Home Bancorp (NASDAQ:HBCP) Cut to Hold at Zacks Research

Key Points

• Home Bancorp was downgraded from a "strong-buy" rating to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment.
• Piper Sandler raised their price target on Home Bancorp from $60.00 to $65.00, indicating a generally positive outlook from some analysts despite the downgrade.
• The company reported an earnings per share (EPS) of $1.45 for the last quarter, exceeding estimates and pointing to strong financial performance.

Home Bancorp (NASDAQ:HBCP - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on HBCP. Piper Sandler raised their target price on shares of Home Bancorp from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Home Bancorp from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Hovde Group upped their target price on shares of Home Bancorp from $48.50 to $51.50 and gave the company a "market perform" rating in a report on Thursday, April 24th. Finally, Raymond James Financial raised their target price on shares of Home Bancorp from $52.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Home Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Home Bancorp Stock Up 1.0%

Shares of NASDAQ:HBCP traded up $0.57 during midday trading on Thursday, reaching $56.76. The company had a trading volume of 22,848 shares, compared to its average volume of 35,909. Home Bancorp has a 1-year low of $39.59 and a 1-year high of $61.07. The stock has a market cap of $444.15 million, a PE ratio of 10.89 and a beta of 0.62. 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 $53.59 and its 200 day moving average price is $49.63.

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

Institutional Investors Weigh In On Home Bancorp

A number of institutional investors have recently modified their holdings of HBCP. Citadel Advisors LLC acquired a new stake in shares of Home Bancorp in the fourth quarter valued at approximately $774,000. Pacific Ridge Capital Partners LLC raised its holdings in Home Bancorp by 18.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 86,784 shares of the bank's stock valued at $3,888,000 after acquiring an additional 13,822 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Home Bancorp by 40.3% during the 4th quarter. Ameriprise Financial Inc. now owns 18,455 shares of the bank's stock valued at $853,000 after acquiring an additional 5,302 shares during the period. 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 worth $5,065,000 after purchasing an additional 83,965 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Home Bancorp by 235.9% during the 4th quarter. BNP Paribas Financial Markets now owns 7,985 shares of the bank's stock worth $369,000 after purchasing an additional 5,608 shares in the last quarter. Institutional investors own 49.41% of the company's stock.

Home Bancorp Company Profile

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.