HomeTrust Bancshares to switch to NYSE from NASDAQ

ASHEVILLE, N.C. - HomeTrust Bancshares, Inc. (NASDAQ:HTBI), the parent company of HomeTrust Bank, has announced plans to transfer its common stock listing from the NASDAQ Stock Market to the New York Stock Exchange (NYSE). The transition is set to occur with the start of trading on Monday, February 24, 2025, under the new ticker symbol "HTB". The company, currently trading at $37.38, has demonstrated strong momentum with a 43% return over the past year.

The company’s stock will continue to be available on NASDAQ until market close on Friday, February 21, 2025. Hunter Westbrook, President and CEO of HomeTrust, expressed enthusiasm about the move, stating, "In joining the world’s largest stock exchange, we believe leveraging the NYSE trading platform will provide greater exposure for our Company and long-term value for our stockholders." Westbrook also mentioned the company’s plans to commemorate the switch by ringing the NYSE Opening Bell on their first day of trading on the exchange. According to InvestingPro data, the company has maintained a strong financial position, with an overall health score rated as "GREAT" and a consistent track record of raising dividends for seven consecutive years.

Tara Dziedzic, Head of US Listings at the New York Stock Exchange, welcomed HomeTrust Bancshares, noting that the company would be joining a diverse community of influential and innovative members.

HomeTrust Bancshares, Inc., with assets of $4.6 billion as of December 31, 2024, is a community-focused financial institution that has been serving various regions through more than 30 locations and digital banking channels since its establishment in 1926. With a market capitalization of $649 million and a P/E ratio of 11.5, the bank has maintained profitable operations, generating $193 million in revenue over the last twelve months. InvestingPro subscribers can access additional insights, including 6 more ProTips and detailed financial metrics.

The company’s forward-looking statements indicate plans and expectations for future financial performance and are subject to a range of economic and market conditions. These statements are based on current management beliefs and assumptions and could change due to numerous factors, including economic shifts, regulatory changes, and other unforeseen events. Notably, two analysts have recently revised their earnings estimates upward for the upcoming period, with price targets ranging from $42 to $44.50. For comprehensive analyst coverage and detailed financial analysis, visit InvestingPro.

The information in this article is based on a press release statement from HomeTrust Bancshares, Inc.

In other recent news, HomeTrust Bancshares has reported notable financial developments. The company disclosed an increase in its Q4 net income to $14.2 million, up from $13.1 million the previous quarter. Earnings per share also rose to $0.83 from $0.76. For the full year, HomeTrust Bancshares reported a net income of $54.8 million, an increase from $50.0 million the previous year.

In addition to financial performance, the company announced a change in its independent registered public accounting firm, transitioning from Forvis Mazars, LLP to Crowe LLP. This decision followed a thorough selection process by the company’s Audit Committee.

HomeTrust Bancshares also declared a quarterly cash dividend of $0.12 per common share, marking a 9.09% increase from the previous dividend. These are among the recent developments for the company, which continues to show financial growth and strategic decision-making in its operations.

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