HomeTrust Bancshares (HTBI) PT Raised to $38 at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods analyst Brady Gailey raised the price target on HomeTrust Bancshares (NASDAQ: HTBI) to $38.00 (from $32.00) while maintaining a Outperform rating.

The analyst commented, "An in-line quarter as a strong NIM and NII beat was offset by a higher provision. Our calculated NIM increased 5 bpts to 4.11%, and loans grew 6% LQA. HTBI noted the NIM benefited from a couple one-time items and as a result will likely move lower in 2H24. NPAs ticked up to 0.68% from 0.55% and NCOs came in at 0.27%, but credit trends are largely stable. Estimates are relatively stable with '24E and '25E moving to $3.03 and $2.83. Price Target is moving to $38. Rating is Outperform with the shares trading at 1.13x year-out TBV and 12x '25E."

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