FJ Capital Cuts HomeTrust Bancshares Stake to 7.0%

TL;DR

**FJ Capital Management just trimmed its HTBI stake to 7.0%, signaling a potential shift in their investment thesis.**

AI Summary

FJ Capital Management LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 6, 2024, disclosing its ownership in HomeTrust Bancshares, Inc. (HTBI). As of December 31, 2023, FJ Capital Management LLC, along with its group members Financial Opportunity Fund LLC and Financial Opportunity Long/Short Fund LLC, reported beneficial ownership of 1,200,000 shares of HTBI common stock. This represents a 7.0% stake in the company, a decrease from their previous filing, indicating a reduction in their position. This matters to investors because a significant institutional investor has reduced its holdings, which could signal a change in their outlook on the stock's future performance.

Why It Matters

This filing shows that a major institutional investor, FJ Capital Management LLC, has reduced its ownership in HomeTrust Bancshares, Inc., which could be interpreted as a less bullish outlook on the company's future prospects.

Risk Assessment

Risk Level: medium — A reduction in a significant institutional holding can sometimes precede further price declines if other investors follow suit, creating medium risk for current shareholders.

Analyst Insight

An investor might consider this a signal to research the reasons behind FJ Capital Management's reduced stake in HTBI and potentially reassess their own investment thesis or consider reducing their exposure.

Key Numbers

• 1,200,000 — shares beneficially owned (total shares of HomeTrust Bancshares, Inc. held by FJ Capital Management LLC and its group as of December 31, 2023)
• 7.0% — percentage of class (the beneficial ownership percentage of HomeTrust Bancshares, Inc. common stock held by FJ Capital Management LLC and its group)
• December 31, 2023 — date of event (the date requiring the filing of this statement, indicating the snapshot of ownership)
• February 6, 2024 — filing date (the date the SC 13G/A amendment was filed with the SEC)

Key Players & Entities

• FJ Capital Management LLC (company) — the reporting person and investment firm
• HomeTrust Bancshares, Inc. (company) — the subject company (issuer) of the securities
• Financial Opportunity Fund LLC (company) — a group member of FJ Capital Management LLC
• Financial Opportunity Long/Short Fund LLC (company) — a group member of FJ Capital Management LLC
• Martin S. Friedman (person) — a group member associated with the filing
• Delaware (company) — place of organization for FJ Capital Management LLC

Forward-Looking Statements

• Other institutional investors may review FJ Capital Management's reduced stake and potentially re-evaluate their own positions in HomeTrust Bancshares, Inc. (HomeTrust Bancshares, Inc.) — medium confidence, target: Q1 2024
• The stock price of HomeTrust Bancshares, Inc. could experience downward pressure if this reduction is perceived negatively by the market. (HomeTrust Bancshares, Inc.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• eps11128_htbi.htm (SC 13G/A) — 99KB
• 0001171520-24-000069.txt ( ) — 101KB

(a)

Item 1(a). Name of Issuer: HomeTrust Bancshares

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 10 Woodfin Street Asheville, NC 28801

(a)

Item 2(a). Name of Person Filing: This Schedule 13G is being filed on behalf of the following Reporting Persons: Financial Opportunity Fund LLC Financial Opportunity Long/Short Fund LLC FJ Capital Management LLC Martin Friedman

(b)

Item 2(b). Address of Principal Business Office or, if None, Residence: FJ Capital Management, LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Long/Short Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Martin Friedman 7901 Jones Branch Drive, Suite 210 McLean, VA 22102

(c)

Item 2(c). Citizenship: Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, and FJ Capital Management LLC – Delaware limited liability companies Martin Friedman – United States citizen

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 437872 10 4 CUSIP No. 437872 10 4 Page 7 of 9 Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: FJ Capital Management LLC – 1,679,212 shares Financial Opportunity Fund LLC – 1,572,277 shares Financial Opportunity Long/Short Fund LLC – 40,067 shares Martin Friedman – 1,679,212 shares (b) Percent of class: FJ Capital Management LLC – 9.66% Financial Opportunity Fund LLC – 9.04% Financial Opportunity Long/Short Fund LLC – 0.23% Martin Friedman – 9.66% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote CUSIP No. 437872 10 4 Page 8 of 9 All Reporting Persons - 0 (ii) Shared power to vote or to direct

View Full Filing

View this SC 13G/A filing on SEC EDGAR