HomeTrust Bancshares (NYSE:HTB) Reaches New 52-Week High – Here’s Why

HomeTrust Bancshares, Inc. (NYSE:HTB)’s stock price hit a new 52-week high on Monday . The company traded as high as $52.21 and last traded at $51.9630, with a volume of 4623 shares traded. The stock had previously closed at $51.19.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HTB. Zacks Research raised shares of HomeTrust Bancshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Hovde Group lifted their price target on shares of HomeTrust Bancshares from $46.50 to $47.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings raised shares of HomeTrust Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $47.00.

HomeTrust Bancshares Stock Up 0.8%

The stock has a market capitalization of $867.56 million, a P/E ratio of 13.55 and a beta of 0.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.08. The firm has a fifty day simple moving average of $48.44.

HomeTrust Bancshares (NYSE:HTB) last posted its earnings results on Thursday, July 23rd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. HomeTrust Bancshares had a return on equity of 10.90% and a net margin of 22.50%.The company had revenue of $54.54 million for the quarter, compared to the consensus estimate of $53.22 million. As a group, research analysts forecast that HomeTrust Bancshares, Inc. will post 3.87 EPS for the current year.

HomeTrust Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. HomeTrust Bancshares’s dividend payout ratio is presently 15.75%.

Insider Transactions at HomeTrust Bancshares

In related news, CEO Hunter Westbrook sold 31,022 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.81, for a total transaction of $1,421,117.82. Following the completion of the sale, the chief executive officer directly owned 105,828 shares in the company, valued at approximately $4,847,980.68. The trade was a 22.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kristin Y. Powell sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $46.78, for a total transaction of $46,780.00. Following the sale, the executive vice president owned 21,595 shares of the company’s stock, valued at $1,010,214.10. This trade represents a 4.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 51,000 shares of company stock worth $2,392,850 in the last quarter. Company insiders own 11.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HTB. California State Teachers Retirement System bought a new stake in shares of HomeTrust Bancshares during the 1st quarter valued at $37,000. CrossGen Wealth LLC purchased a new stake in shares of HomeTrust Bancshares in the 1st quarter worth $91,000. Sterling Capital Management LLC bought a new position in HomeTrust Bancshares in the 1st quarter worth $105,000. Royal Bank of Canada bought a new position in HomeTrust Bancshares in the 1st quarter worth $153,000. Finally, Public Employees Retirement System of Ohio purchased a new position in HomeTrust Bancshares during the first quarter valued at $187,000. Hedge funds and other institutional investors own 60.94% of the company’s stock.

HomeTrust Bancshares Company Profile

HomeTrust Bancshares, Inc is the bank holding company for HomeTrust Bank, a regional community bank that provides a range of commercial and consumer banking services. Through its subsidiary bank, the company offers traditional deposit and lending products, including checking and savings accounts, certificates of deposit, residential mortgages, home equity lending, and business loans. HomeTrust also delivers treasury management and payment services for small and midsize businesses, along with digital banking tools to support day-to-day account access and payments.

The company’s product set extends beyond core banking to include wealth management and trust services, commercial real estate financing, and specialized lending for agriculture and construction where relevant to local markets.