Home Bancorp (NASDAQ:HBCP) Sets New 52-Week High - Time to Buy?

Key Points

• Home Bancorp hit a new 52-week high, trading as high as $66.00 and last near $65.94, after a recent run above both its 50-day and 200-day moving averages.
• The bank posted solid quarterly results, with EPS of $1.45 beating estimates and revenue of $38.22 million also topping expectations.
• Analysts are mixed: some recently downgraded the stock, but the consensus remains Moderate Buy with a target price of $65.50, while insiders have also been selling shares.

Home Bancorp, Inc. (NASDAQ:HBCP - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $66.00 and last traded at $65.94, with a volume of 2731 shares changing hands. The stock had previously closed at $65.16.

Analysts Set New Price Targets

Several research firms have commented on HBCP. Piper Sandler downgraded Home Bancorp from an "overweight" rating to a "neutral" rating and set a $69.00 price objective for the company. in a research note on Wednesday, April 22nd. Zacks Research downgraded Home Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Hovde Group lifted their target price on shares of Home Bancorp from $62.00 to $65.50 and gave the company a "market perform" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of Home Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.50.

Home Bancorp Trading Down 0.0%

The firm has a market capitalization of $509.29 million, a PE ratio of 10.92 and a beta of 0.50. The business has a 50 day moving average price of $62.52 and a 200-day moving average price of $60.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.

Home Bancorp (NASDAQ:HBCP - Get Free Report) last issued its earnings results on Monday, April 20th. The bank reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.06. The business had revenue of $38.22 million during the quarter, compared to the consensus estimate of $33.63 million. Home Bancorp had a return on equity of 10.86% and a net margin of 22.18%.During the same period in the prior year, the business posted $1.37 EPS. Analysts expect that Home Bancorp, Inc. will post 5.98 earnings per share for the current year.

Home Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, May 4th. Home Bancorp's dividend payout ratio is 20.84%.

Insiders Place Their Bets

In other news, CFO David T. Kirkley sold 655 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $62.80, for a total transaction of $41,134.00. Following the completion of the transaction, the chief financial officer directly owned 5,064 shares of the company's stock, valued at approximately $318,019.20. This represents a 11.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Iv Zollinger sold 867 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $62.77, for a total value of $54,421.59. Following the transaction, the executive vice president directly owned 7,643 shares of the company's stock, valued at approximately $479,751.11. This trade represents a 10.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,653 shares of company stock valued at $359,063. Corporate insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Home Bancorp

A number of large investors have recently modified their holdings of HBCP. Royal Bank of Canada raised its stake in shares of Home Bancorp by 11.8% during the 1st quarter. Royal Bank of Canada now owns 5,771 shares of the bank's stock worth $258,000 after buying an additional 607 shares in the last quarter. AQR Capital Management LLC increased its stake in Home Bancorp by 80.7% in the 1st quarter. AQR Capital Management LLC now owns 12,258 shares of the bank's stock valued at $549,000 after purchasing an additional 5,476 shares in the last quarter. Empowered Funds LLC increased its stake in Home Bancorp by 7.3% in the 1st quarter. Empowered Funds LLC now owns 33,749 shares of the bank's stock valued at $1,512,000 after purchasing an additional 2,301 shares in the last quarter. Jane Street Group LLC purchased a new position in Home Bancorp in the 1st quarter valued at approximately $612,000. Finally, JPMorgan Chase & Co. increased its stake in Home Bancorp by 9.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,669 shares of the bank's stock valued at $1,122,000 after purchasing an additional 1,878 shares in the last quarter. 49.41% of the stock is owned by hedge funds and other institutional investors.

Home Bancorp Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.