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Home BancShares (NYSE:HOMB – Get Free Report) had its price objective increased by research analysts at Stephens from $32.00 to $35.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 13.01% from the company’s current price.
Other equities analysts have also issued reports about the company. Benchmark assumed coverage on Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Keefe, Bruyette & Woods raised their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday. Weiss Ratings downgraded shares of Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a report on Thursday. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.80.
View Our Latest Report on Home BancShares
Home BancShares Trading Up 0.9%
Home BancShares (NYSE:HOMB – Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $288.70 million. Home BancShares had a return on equity of 11.29% and a net margin of 32.10%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.58 earnings per share. As a group, analysts forecast that Home BancShares will post 2.48 EPS for the current year.
Insider Activity
In related news, CAO Jennifer C. Floyd sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total transaction of $81,330.00. Following the completion of the transaction, the chief accounting officer owned 4,635 shares in the company, valued at $125,654.85. This represents a 39.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.39% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Home BancShares by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider’s stock valued at $12,453,000 after purchasing an additional 15,259 shares in the last quarter. Jane Street Group LLC raised its stake in Home BancShares by 82.7% in the first quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider’s stock worth $7,826,000 after buying an additional 125,301 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Home BancShares by 13.2% in the second quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider’s stock worth $612,000 after buying an additional 2,500 shares during the period. Marshall Wace LLP purchased a new stake in Home BancShares in the second quarter worth about $1,015,000. Finally, Jump Financial LLC bought a new stake in Home BancShares during the 2nd quarter valued at approximately $230,000. 67.31% of the stock is owned by hedge funds and other institutional investors.
About Home BancShares
Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.
The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.
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