Western Standard LLC increased its position in shares of HopFed Bancorp, Inc (NASDAQ:HFBC) by 32.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,233 shares of the savings and loans company’s stock after purchasing an additional 10,473 shares during the quarter. HopFed Bancorp makes up about 0.8% of Western Standard LLC’s holdings, making the stock its 27th biggest position. Western Standard LLC owned approximately 0.65% of HopFed Bancorp worth $627,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in HopFed Bancorp by 2.5% in the second quarter. Northern Trust Corp now owns 11,505 shares of the savings and loans company’s stock valued at $165,000 after acquiring an additional 278 shares during the last quarter. 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 acquiring an additional 733 shares during 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 acquiring an additional 2,655 shares during 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 acquiring an additional 5,600 shares during the last quarter. Finally, Stilwell Value LLC boosted its stake in HopFed Bancorp by 1,333.4% in the second quarter. Stilwell Value LLC now owns 9,132,593 shares of the savings and loans company’s stock valued at $9,133,000 after acquiring an additional 8,495,465 shares during the last quarter. Institutional investors and hedge funds own 46.56% of the company’s stock.
In other HopFed Bancorp news, Director Clay Smith purchased 4,500 shares of the stock in a transaction dated Thursday, September 21st. The shares were bought at an average price of $14.20 per share, with a total value of $63,900.00. Following the completion of the transaction, the director now directly owns 16,580 shares in the company, valued at approximately $235,436. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.
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 (EPS) for the quarter, beating the 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 company had revenue of $9.13 million for the quarter, compared to analyst estimates of $8.99 million. equities research analysts anticipate that HopFed Bancorp, Inc will post 0.73 EPS for the current year.
HopFed Bancorp announced that its board has initiated a stock repurchase plan on Thursday, November 16th that allows the company to repurchase 300,000 outstanding shares. This repurchase authorization allows the savings and loans company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Separately, Zacks Investment Research upgraded shares of HopFed Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, November 1st.
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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