Home Bancorp upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded Home Bancorp (HBCP) to Outperform from Market Perform with a $50 price target following the better than expected Q3 report. The firm’s “stronger conviction” is predicated on Home’s above peer-profitability levels where it now believes the bank will consistently achieve a 1.0% return on assets in the out-years. While industry loan growth has slowed, the company has an inherent strength, where it can leverage its more rural Louisiana deposits to fund growth in the faster-growing Houston market, the analyst tells investors in a research note.