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Quantbot Technologies LP purchased a new position in Home BancShares, Inc. (NYSE:HOMB – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 99,446 shares of the financial services provider’s stock, valued at approximately $2,839,000.
A number of other institutional investors and hedge funds have also made changes to their positions in HOMB. Millennium Capital Advisors LLC bought a new position in shares of Home BancShares during the fourth quarter valued at $1,450,000. Vanguard Group Inc. raised its holdings in shares of 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 valued at $567,372,000 after purchasing an additional 621,751 shares during the last quarter. Norges Bank bought a new position in shares of Home BancShares during the 4th quarter valued at $66,673,000. Bank of America Corp DE lifted 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 acquiring an additional 111,888 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Home BancShares by 4.5% in the 4th quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider’s stock worth $155,242,000 after purchasing an additional 238,548 shares during the period. Institutional investors own 67.31% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 price objective (up from $30.00) on shares of Home BancShares in a research report on Wednesday. Benchmark assumed coverage on Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods raised their target price on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, Weiss Ratings upgraded Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.83.
Insider Transactions at Home BancShares
In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total transaction of $379,080.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.39% of the stock is currently owned by company insiders.
Home BancShares Price Performance
Shares of Home BancShares stock opened at $30.28 on Monday. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 12.51 and a beta of 0.69. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $29.80 and its 200-day simple moving average is $28.23. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $31.70.
Home BancShares (NYSE:HOMB – Get Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $295.10 million during the quarter, compared to analysts’ expectations of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. As a group, analysts expect that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.
Home BancShares Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, August 12th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s dividend payout ratio is currently 38.02%.
Home BancShares 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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