HomeTrust Q2 Net Income Dips to $15.6M, NIM Expands to 4.41%, Dividend Raised to $0.15
HTB sits 29% above its 52-week low of $37.3.
Summary
HomeTrust reported Q2 net income of $15.6M ($0.94 EPS), down from $16.8M in Q1, as a $1.1M loss on junior subordinated debt redemption and higher credit provisions offset a 10bp NIM expansion to 4.41%. Loan growth accelerated to 8.5% annualized, and the company launched a Healthcare Banking Division. The quarterly dividend was raised 15.4% to $0.15 per share, and buybacks continued at a slower pace (153K shares vs. 533K in Q1). The results show mixed signals: margin improvement and loan growth are positives, but earnings slipped sequentially and credit costs ticked up. The new healthcare initiative adds a growth avenue. This follows the Q1 10-Q that highlighted increased nonperforming assets, so asset quality remains a key watchpoint.
At the time of this announcement, HTB was trading at $48.22 on NYSE in the Finance sector, with a market capitalization of approximately $810.4M. The 52-week trading range was $37.30 to $51.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.