Home BancShares (NYSE:HOMB) Hits New 12-Month High – What’s Next?

Shares of Home BancShares, Inc. (NYSE:HOMBGet Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.70 and last traded at $31.39, with a volume of 1864052 shares traded. The stock had previously closed at $31.48.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Citigroup restated a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Benchmark assumed coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Weiss Ratings upgraded shares of Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.67.

Check Out Our Latest Stock Analysis on Home BancShares

Home BancShares Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $6.25 billion, a PE ratio of 12.82 and a beta of 0.68. The company’s fifty day simple moving average is $28.62 and its two-hundred day simple moving average is $28.01.

Home BancShares (NYSE:HOMBGet Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 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 11.25% and a net margin of 32.10%.Home BancShares’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, sell-side analysts predict that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a $0.23 dividend. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares’s dividend payout ratio (DPR) is presently 38.02%.

Institutional Trading of Home BancShares

A number of hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Home BancShares by 3.6% in 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 worth $12,453,000 after acquiring an additional 15,259 shares during the period. Jane Street Group LLC lifted its stake in shares of Home BancShares by 82.7% during the 1st quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider’s stock worth $7,826,000 after purchasing an additional 125,301 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Home BancShares by 13.2% during the second quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 2,500 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Home BancShares during the second quarter worth $1,015,000. Finally, Jump Financial LLC purchased a new stake in shares of Home BancShares in the second quarter valued at $230,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

About Home BancShares

(Get Free Report)

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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