Home Bancorp (NASDAQ:HBCP) Upgraded by Raymond James to “Outperform”

Raymond James upgraded shares of Home Bancorp (NASDAQ:HBCP) from a market perform rating to an outperform rating in a report released on Monday morning, MarketBeat reports. They currently have $50.00 target price on the bank’s stock.

Separately, Hovde Group boosted their target price on shares of Home Bancorp from $45.00 to $48.50 and gave the company an “outperform” rating in a research report on Friday, July 19th.

Home Bancorp Stock Performance

HBCP opened at $45.59 on Monday. The firm has a market cap of $370.56 million, a P/E ratio of 9.62 and a beta of 0.69. The business’s fifty day moving average is $42.83 and its 200-day moving average is $39.79. Home Bancorp has a 52-week low of $33.00 and a 52-week high of $48.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96.

Home Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, October 28th. This is a boost from Home Bancorp’s previous quarterly dividend of $0.25. Home Bancorp’s payout ratio is currently 21.94%.

Institutional Investors Weigh In On Home Bancorp

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in Home Bancorp by 531.8% in the 1st quarter. BNP Paribas Financial Markets now owns 12,289 shares of the bank’s stock valued at $471,000 after purchasing an additional 10,344 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Home Bancorp by 7.8% during the 1st quarter. Empowered Funds LLC now owns 26,509 shares of the bank’s stock valued at $1,016,000 after acquiring an additional 1,925 shares in the last quarter. Vanguard Group Inc. grew its position in Home Bancorp by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 365,043 shares of the bank’s stock worth $13,985,000 after acquiring an additional 3,414 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in Home Bancorp by 29.3% in the 1st quarter. Kennedy Capital Management LLC now owns 22,832 shares of the bank’s stock worth $875,000 after purchasing an additional 5,177 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Home Bancorp by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 35,951 shares of the bank’s stock valued at $1,438,000 after purchasing an additional 2,672 shares during the last quarter. 49.41% of the stock is currently owned by institutional investors and hedge funds.

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.