The Manufacturers Life Insurance Company Purchases New Holdings in Home BancShares, Inc. $HOMB

The Manufacturers Life Insurance Company acquired a new position in Home BancShares, Inc. (NYSE:HOMBFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 178,351 shares of the financial services provider’s stock, valued at approximately $5,092,000.

Several other large investors also recently bought and sold shares of the company. Millennium Capital Advisors LLC acquired a new stake in shares of Home BancShares in the fourth quarter worth approximately $1,450,000. Vanguard Group Inc. raised its stake in Home BancShares by 3.1% in the 4th 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. Bank of America Corp DE lifted its holdings in Home BancShares by 14.5% in the 1st quarter. Bank of America Corp DE now owns 886,006 shares of the financial services provider’s stock valued at $23,860,000 after purchasing an additional 111,888 shares in the last quarter. Norges Bank purchased a new position in Home BancShares in the 4th quarter valued at $66,673,000. Finally, Capital Research Global Investors boosted its stake in Home BancShares by 4.5% during 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 last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOMB has been the subject of a number of research reports. Citigroup reaffirmed a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Keefe, Bruyette & Woods upped 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. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Finally, Benchmark initiated coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Read Our Latest Analysis on Home BancShares

Home BancShares Stock Down 0.5%

Shares of NYSE:HOMB opened at $29.48 on Tuesday. Home BancShares, Inc. has a 52-week low of $25.50 and a 52-week high of $31.70. The stock has a market cap of $5.90 billion, a P/E ratio of 12.18 and a beta of 0.69. The business has a fifty day moving average of $30.04 and a two-hundred day moving average of $28.22. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16.

Home BancShares (NYSE:HOMBGet Free Report) last posted its quarterly earnings results 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. The business had revenue of $295.10 million for the quarter, compared to analyst estimates of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, research analysts expect that Home BancShares, Inc. will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The company also recently disclosed 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 is an increase from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.1%. Home BancShares’s dividend payout ratio (DPR) is 38.02%.

Insider Buying and Selling

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the business’s stock in a transaction dated 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 $2,410,569.72. The trade was a 13.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.39% of the stock is owned by company insiders.

Home BancShares Company Profile

(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.

See Also

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

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