Home Bancorp (NASDAQ:HBCP) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Home Bancorp shares moved above their 200-day moving average, reaching $68.10 before closing at $67.17, compared with the $66.21 long-term average.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $69.50 target price; Raymond James set a $74 target.
• The bank exceeded quarterly earnings and revenue expectations and raised its quarterly dividend to $0.32 per share, equivalent to a 1.9% annualized yield.

Shares of Home Bancorp, Inc. (NASDAQ:HBCP - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $66.21 and traded as high as $68.10. Home Bancorp shares last traded at $67.17, with a volume of 49,533 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Raymond James Financial reissued an "outperform" rating and issued a $74.00 price objective on shares of Home Bancorp in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (a-)" rating on shares of Home Bancorp in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Home Bancorp has an average rating of "Moderate Buy" and a consensus target price of $69.50.

Home Bancorp Stock Performance

The company's 50-day simple moving average is $70.03 and its 200 day simple moving average is $66.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The stock has a market cap of $526.61 million, a P/E ratio of 11.23 and a beta of 0.49.

Home Bancorp (NASDAQ:HBCP - Get Free Report) last announced its earnings results on Monday, July 20th. The bank reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The firm had revenue of $39.72 million for the quarter, compared to the consensus estimate of $38.57 million. Home Bancorp had a return on equity of 10.65% and a net margin of 22.23%. As a group, sell-side analysts expect that Home Bancorp, Inc. will post 5.98 EPS for the current fiscal year.

Home Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $0.32 dividend. This is an increase from Home Bancorp's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, August 3rd. Home Bancorp's payout ratio is presently 21.40%.

Insider Transactions at Home Bancorp

In other news, EVP John Zollinger, IV sold 750 shares of the firm's 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 directly owned 7,643 shares of the company's stock, valued at $547,850.24. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in HBCP. Sequoia Financial Advisors LLC purchased a new position in shares of Home Bancorp in the 2nd quarter worth about $215,000. Integrated Wealth Concepts LLC purchased a new stake in Home Bancorp during the second quarter worth about $55,000. Squarepoint Ops LLC increased its holdings in Home Bancorp by 76.1% during the second quarter. Squarepoint Ops LLC now owns 7,752 shares of the bank's stock worth $531,000 after buying an additional 3,351 shares during the last quarter. Allworth Financial LP raised its position in Home Bancorp by 99.5% in the second quarter. Allworth Financial LP now owns 437 shares of the bank's stock worth $30,000 after acquiring an additional 218 shares during the period. Finally, Compass Financial Management LLC bought a new stake in Home Bancorp in the second quarter worth about $1,656,000. 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 Home Bank, N.A., a community-focused financial institution headquartered in Lafayette, Louisiana. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and organizations across its service area.

Home Bank offers deposit products such as checking, savings, money market and certificate accounts. Its lending activities include residential mortgage loans, home equity loans, commercial real estate financing, construction loans, commercial and industrial loans, and consumer loans.

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