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Home BancShares (NYSE:HOMB – Free Report) had its target price boosted by Cantor Fitzgerald from $30.00 to $31.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the financial services provider’s stock.
HOMB has been the topic of several other research reports. Citigroup restated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Keefe, Bruyette & Woods raised 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. Finally, Benchmark assumed coverage on shares of Home BancShares in a report on Wednesday, June 24th. They set 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.83.
Home BancShares Trading Up 0.3%
Home BancShares (NYSE:HOMB – Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The company had revenue of $295.10 million during the quarter, compared to analyst estimates of $288.70 million. During the same period in the previous year, the firm earned $0.58 earnings per share. Home BancShares’s quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts anticipate that Home BancShares will post 2.51 earnings per share for the current fiscal year.
Home BancShares Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. Home BancShares’s payout ratio is presently 38.02%.
Insider Buying and Selling
In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of Home BancShares stock in a transaction 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 in the company, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.39% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Home BancShares
Large investors have recently modified their holdings of the business. Millennium Capital Advisors LLC acquired a new stake in shares of Home BancShares in the fourth quarter valued at about $1,450,000. Vanguard Group Inc. grew its position in Home BancShares by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock worth $567,372,000 after buying an additional 621,751 shares during the period. Norges Bank acquired a new position in Home BancShares during the fourth quarter worth about $66,673,000. Bank of America Corp DE increased its holdings in Home BancShares by 14.5% in the first quarter. Bank of America Corp DE now owns 886,006 shares of the financial services provider’s stock valued at $23,860,000 after buying an additional 111,888 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in Home BancShares by 4.5% in the fourth quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider’s stock valued at $155,242,000 after buying an additional 238,548 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.
Home BancShares Company Profile
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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