Home BancShares (NYSE:HOMB) Stock Gets Price Target Reduction from Citigroup

Home BancShares (NYSE:HOMB – Get Free Report) had its target price lowered by equities research analysts at Citigroup from $32.00 to $31.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 6.47% from the stock’s current price.

Several other equities analysts also recently weighed in on HOMB. Weiss Ratings upgraded Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their price target on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $34.00 price target (down from $36.00) on shares of Home BancShares in a research note on Friday. Stephens upped their price target on shares of Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Home BancShares in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.57.

View Our Latest Report on HOMB

Home BancShares Stock Down 0.3%

HOMB stock traded down $0.08 on Monday, reaching $29.12. 2,658,450 shares of the company traded hands, compared to its average volume of 1,592,771. Home BancShares has a one year low of $25.50 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $5.82 billion, a P/E ratio of 11.93 and a beta of 0.72. The firm has a fifty day simple moving average of $29.58 and a 200-day simple moving average of $28.60.

Home BancShares (NYSE:HOMB – Get Free Report) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Home BancShares had a return on equity of 11.14% and a net margin of 32.36%. The business had revenue of $288.44 million during the quarter, compared to analysts’ expectations of $294.42 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that Home BancShares will post 2.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John Tipton sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 approximately $2,410,569.72. This represents a 13.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.39% of the stock is currently owned by insiders.

Institutional Trading of Home BancShares

A number of institutional investors and hedge funds have recently modified their holdings of HOMB. Root Financial Partners LLC boosted its position in shares of Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock valued at $29,000 after buying an additional 474 shares during the last quarter. IFP Advisors Inc raised its position in Home BancShares by 490.4% in the 3rd quarter. IFP Advisors Inc now owns 1,293 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,074 shares during the last quarter. Trust Co. of Vermont bought a new position in Home BancShares during the 2nd quarter valued at about $41,000. Ancora Advisors LLC bought a new position in Home BancShares during the 2nd quarter valued at about $45,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Home BancShares by 153.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,857 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,124 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

About Home BancShares

(Get Free Report)

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.

Further Reading

Analyst Recommendations for Home BancShares (NYSE:HOMB)

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