Keefe Bruyette analyst Brady Gailey upgraded HomeTrust to Outperform from Market Perform with a $32 price target. The firm has “long admired” the company’s attractive southeast markets, its ongoing transition to a thriving commercially focused banking franchise, its steps towards higher profitability, its scarcity value, and its numerous strategic changes and improvements, the analyst tells investors in a research note. Keefe Bruyette further cites HomeTrust valuation, with the stock trading at only 0.97-times tangible book value and 9.1-times expected FY24 earnings.
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