Great Lakes Advisors LLC Makes New $7.56 Million Investment in Home BancShares, Inc. $HOMB

Great Lakes Advisors LLC bought a new position in shares of Home BancShares, Inc. (NYSE:HOMBFree Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 264,951 shares of the financial services provider’s stock, valued at approximately $7,564,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Home BancShares in the 2nd quarter valued at $735,643,000. Norges Bank bought a new position in Home BancShares during the 4th quarter worth $66,673,000. Bank of New York Mellon Corp acquired a new stake in shares of Home BancShares during the second quarter worth $44,068,000. First Trust Advisors LP lifted its holdings in shares of Home BancShares by 37.3% during the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock worth $85,031,000 after buying an additional 830,823 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Home BancShares by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock valued at $567,372,000 after acquiring an additional 621,751 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John Stephen Tipton sold 12,000 shares of Home BancShares stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the transaction, the chief executive officer directly owned 76,308 shares of the company’s stock, valued at $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.39% of the company’s stock.

Home BancShares Stock Down 1.8%

Shares of NYSE HOMB opened at $30.41 on Thursday. The stock has a market capitalization of $6.08 billion, a P/E ratio of 12.56 and a beta of 0.69. The stock’s fifty day moving average is $29.71 and its 200 day moving average is $28.22. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $31.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92.

Home BancShares (NYSE:HOMBGet Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $295.10 million during the quarter, compared to analysts’ expectations of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. Home BancShares’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 earnings per share. Sell-side analysts forecast that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s dividend payout ratio (DPR) is 38.02%.

Analysts Set New Price Targets

Several research firms recently commented on HOMB. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler restated an “overweight” rating and set a $36.00 target price (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 target price (up from $30.00) on shares of Home BancShares in a report on Wednesday. Stephens lifted their price target on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Benchmark assumed coverage on Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Home BancShares presently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Get Our Latest Stock Analysis on HOMB

About Home BancShares

(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.

Further Reading

Want to see what other hedge funds are holding HOMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home BancShares, Inc. (NYSE:HOMBFree Report).

Institutional Ownership by Quarter for Home BancShares (NYSE:HOMB)

Receive News & Ratings for Home BancShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home BancShares and related companies with MarketBeat.com's FREE daily email newsletter.