Stock Market

KBW upgrades HomeTrust Bancshares stock to outperform rating, boosting investor confidence in the company.

HomeTrust Bancshares Receives Positive Stock Rating Upgrade from Keefe, Bruyette & Woods

Positive Stock Rating Upgrade

HomeTrust Bancshares (NASDAQ:HTBI) recently received a stock rating upgrade from Keefe, Bruyette & Woods (KBW), raising its rating from Market Perform to Outperform. The firm maintained a price target of $32.00 in light of this decision, following a recent meeting with the bank’s top executives.

Factors Influencing the Upgrade

KBW’s favorable outlook on HomeTrust Bancshares stems from several factors, including the bank’s strategic shift from thrift origins to a more commercially-focused banking model. The institution’s presence in the southeast markets and its current stock valuation are also key factors that influenced KBW’s decision.

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Stock Valuation and Projections

Currently, HomeTrust Bancshares’ stock is trading at 0.97 times tangible book value (TBV) and 9.1 times its estimated 2024 earnings. KBW maintains that this valuation represents a 26% upside potential to the $32.00 price target. Additionally, the firm’s earnings per share (EPS) estimates for HomeTrust Bancshares remain steady at $2.83 for 2024 and $2.79 for 2025.

Strategic Shift and Improvements

The recent upgrade from KBW underscores the series of strategic changes and improvements undertaken by HomeTrust Bancshares. These efforts aim at steering the bank toward higher profitability and enhancing its value in the competitive banking sector.

InvestingPro Insights

InvestingPro data echoes KBW’s positive outlook, highlighting HomeTrust Bancshares’ strong performance metrics and future growth potential. Moreover, analysts’ optimistic views on the bank’s profitability and growth further support the positive stock rating upgrade by KBW.

Valuable Information for Investors

For investors interested in HomeTrust Bancshares, valuable insights including P/E ratio, price performance, and dividend policies are available on InvestingPro. Additionally, users can benefit from an extra 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.

This article was generated with the support of AI and reviewed by an editor. For more information, see our T&C.

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