UPDATE: Raymond James Upgrades Home Bancorp, Inc. (HBCP) to Outperform

(updated to add analyst comment)

Raymond James analyst William Wallace IV upgraded Home Bancorp, Inc. (NASDAQ: HBCP) from Market Perform to Outperform with a price target of $40.00.

The analyst comments "Core operating results in the quarter were generally strong, as higher provision expense more than offset lower operating expenses (spread revenue and fee income in line). Additionally, loan growth was a highlight in the quarter and came in well above expectations (2.7% vs. our 1.0% estimate), driving the provision expense higher (charge-offs were lower than expected)."

For an analyst ratings summary and ratings history on Home Bancorp, Inc. click here. For more ratings news on Home Bancorp, Inc. click here.

Shares of Home Bancorp, Inc. closed at $36.11 yesterday.

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