Home Bancorp Q2 net income rises, dividend up 7%
Overview
Home Bancorp Q2 net income rises to $11.3 mln, diluted EPS at $1.45
Company's net interest income grows 5% qtr/qtr
Co increases quarterly dividend by 7%
Outlook
Company anticipates maintaining strong capital and liquidity for future growth
Home Bancorp expects stable deposit and funding costs to continue
Company sees no anticipated losses despite increase in nonperforming loans
Result Drivers
LOAN GROWTH - Co reports loan growth, primarily in commercial real estate, offset by declines in construction and land loans
DEPOSIT STABILITY - Stable deposit and funding costs contributed to increased net interest margin, per CEO John W. Bordelon
NONPERFORMING ASSETS - Increase in nonperforming assets due to four loan relationships, which were moved to nonaccrual status in Q2
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS | $1.45 | ||
Q2 Net Income | $11.30 mln | ||
Q2 Net Interest Income | $33.40 mln | ||
Q2 Net Interest Margin | 4.0% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Home Bancorp Inc is $51.75, about 8.4% below its July 18 closing price of $56.08
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago
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