Home BancShares (NYSE:HOMB) Reaches New 12-Month High – Still a Buy?

Shares of Home BancShares, Inc. (NYSE:HOMBGet Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $31.24 and last traded at $31.1730, with a volume of 375174 shares changing hands. The stock had previously closed at $30.73.

Analysts Set New Price Targets

Several equities analysts have weighed in on HOMB shares. Keefe, Bruyette & Woods raised 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. Stephens upped their price objective on Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Citigroup reiterated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research report on Tuesday. Finally, Wall Street Zen downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Home BancShares presently has an average rating of “Hold” and an average target price of $32.67.

Get Our Latest Research Report on Home BancShares

Home BancShares Stock Up 1.5%

The stock has a fifty day moving average of $28.03 and a two-hundred day moving average of $27.89. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 12.88 and a beta of 0.68.

Home BancShares (NYSE:HOMBGet Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. The firm had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. During the same quarter in the prior year, the company earned $0.58 EPS. The company’s revenue was up 8.9% on a year-over-year basis. As a group, analysts predict that Home BancShares, Inc. will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s payout ratio is 34.71%.

Hedge Funds Weigh In On Home BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey increased its stake in Home BancShares by 0.8% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 52,582 shares of the financial services provider’s stock valued at $1,461,000 after purchasing an additional 410 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Home BancShares by 4.3% during the third quarter. Quadrant Capital Group LLC now owns 10,360 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 425 shares in the last quarter. Villanova Investment Management Co LLC grew its holdings in shares of Home BancShares by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 114,093 shares of the financial services provider’s stock valued at $3,170,000 after buying an additional 468 shares during the period. Root Financial Partners LLC grew its holdings in shares of Home BancShares by 76.9% in the 1st 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 period. Finally, DRW Securities LLC increased its position in shares of Home BancShares by 2.8% in the 4th quarter. DRW Securities LLC now owns 19,495 shares of the financial services provider’s stock valued at $542,000 after buying an additional 524 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

About Home BancShares

(Get 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

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