HopFed Bancorp, Inc. (NASDAQ:HFBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, November 1st. The brokerage currently has a $16.00 price objective on the savings and loans company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.44% from the stock’s previous close.
According to Zacks, “HopFed Bancorp, Inc. was incorporated for the purpose of serving as a savings and loan holding company for Hopkinsville Federal Savings Bank. The business of the bank primarily consists of attracting deposits from the general public and investing such deposits in loans secured by single family residential real estate and investment securities, including U.S. Government and agency securities and mortgage-backed securities. The bank also originates single-family residential/construction loans and multi-family and commercial real estate loans. “
HopFed Bancorp (NASDAQ HFBC) opened at $13.86 on Wednesday. The company has a market cap of $91.55, a P/E ratio of 18.80 and a beta of 0.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.86. HopFed Bancorp has a 52-week low of $11.50 and a 52-week high of $15.45.
HopFed Bancorp (NASDAQ:HFBC) last posted its quarterly earnings results on Wednesday, October 25th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. HopFed Bancorp had a net margin of 11.09% and a return on equity of 5.21%. The firm had revenue of $9.13 million for the quarter, compared to the consensus estimate of $8.99 million. sell-side analysts forecast that HopFed Bancorp will post 0.72 EPS for the current year.
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In other news, Director Clay Smith acquired 4,500 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was purchased at an average cost of $14.20 per share, with a total value of $63,900.00. Following the acquisition, the director now owns 16,580 shares of the company’s stock, valued at approximately $235,436. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 4,688 shares of company stock valued at $66,557 over the last three months. Company insiders own 4.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its position in shares of HopFed Bancorp by 2.5% in the 2nd quarter. Northern Trust Corp now owns 11,505 shares of the savings and loans company’s stock valued at $165,000 after purchasing an additional 278 shares during the period. Dimensional Fund Advisors LP boosted its stake in HopFed Bancorp by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 230,925 shares of the savings and loans company’s stock valued at $3,397,000 after buying an additional 733 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in HopFed Bancorp by 3.2% in the second quarter. Kennedy Capital Management Inc. now owns 84,680 shares of the savings and loans company’s stock valued at $1,214,000 after buying an additional 2,655 shares in the last quarter. Vanguard Group Inc. boosted its stake in HopFed Bancorp by 3.1% in the second quarter. Vanguard Group Inc. now owns 183,640 shares of the savings and loans company’s stock valued at $2,701,000 after buying an additional 5,600 shares in the last quarter. Finally, Western Standard LLC boosted its stake in HopFed Bancorp by 32.0% in the third quarter. Western Standard LLC now owns 43,233 shares of the savings and loans company’s stock valued at $627,000 after buying an additional 10,473 shares in the last quarter. Institutional investors and hedge funds own 46.67% of the company’s stock.
About HopFed Bancorp
HopFed Bancorp, Inc is a savings and loan holding company that operates through its subsidiary, Heritage Bank USA, Inc (the Bank). The Bank is a Kentucky state chartered commercial bank based in Hopkinsville, Kentucky, with branch offices in Kentucky and Tennessee. The business of the Bank primarily consists of attracting deposits from the general public and investing such deposits in loans secured by single family residential real estate and investment securities, including United States Government and agency securities, municipal and corporate bonds, collateralized mortgages obligations (CMOs), and mortgage-backed securities.
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