Analysts Set Home BancShares, Inc. (NYSE:HOMB) PT at $32.83

Shares of Home BancShares, Inc. (NYSE:HOMB) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $32.8333.

Several research firms recently commented on HOMB. Cantor Fitzgerald initiated coverage on shares of Home BancShares in a research note on Wednesday, September 10th. They set a “neutral” rating and a $32.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home BancShares in a report on Wednesday, October 8th. Piper Sandler set a $34.00 price objective on Home BancShares and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd.

Insiders Place Their Bets

In other Home BancShares news, CEO John W. Allison sold 110,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the sale, the chief executive officer owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. The trade was a 1.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Binnacle Investments Inc boosted its stake in Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 577 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Home BancShares in the first quarter valued at $39,000. First Horizon Corp purchased a new stake in shares of Home BancShares in the third quarter valued at $43,000. Danske Bank A S acquired a new stake in shares of Home BancShares in the third quarter worth $57,000. Finally, Summit Securities Group LLC purchased a new position in shares of Home BancShares during the first quarter valued at $64,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home BancShares Price Performance

NYSE:HOMB opened at $27.07 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $27.78 and its 200 day moving average price is $28.43. Home BancShares has a 52-week low of $24.22 and a 52-week high of $32.90. The firm has a market cap of $5.32 billion, a P/E ratio of 11.67 and a beta of 0.81.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $277.67 million during the quarter, compared to the consensus estimate of $269.96 million. Home BancShares had a net margin of 31.20% and a return on equity of 10.94%. Home BancShares’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. As a group, sell-side analysts predict that Home BancShares will post 2.19 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a $0.21 dividend. This is a positive change from Home BancShares’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, November 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. Home BancShares’s dividend payout ratio is 36.21%.

About Home BancShares

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.