UPDATE: D.A. Davidson Upgrades Home Federal Bancorp to Buy, Reiterates $15 PT as Sell-Off Provides Good Entry Point

In a report published Friday, D.A. Davidson analyst Jeff Rulis upgraded the rating on Home Federal Bancorp HOME from Neutral to Buy, and reiterated the $15.00 price target. In the report, D.A. Davidson noted, “HOME has retrenched nearly 9% YTD, vastly underperforming the Davidson Bank Index which has risen 28% in 2013. Additionally, the stock is down 17% from mid-July highs. Home is currently trading at the lowest TBV multiple in the D.A. Davidson bank universe at 1.03x, compared to micro-cap peers trading at an average of 1.30x TBV. Given this multiple, and Home's good margins and stable credit quality, we see limited downside risk to the current share price.” Home Federal Bancorp closed on Thursday at $11.94.