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Renaissance Technologies LLC grew its position in shares of Home BancShares, Inc. (NYSE:HOMB – Free Report) by 247.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,439 shares of the financial services provider’s stock after acquiring an additional 149,100 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Home BancShares worth $5,640,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Home BancShares during the 4th quarter worth about $66,673,000. First Trust Advisors LP raised its holdings in Home BancShares by 37.3% in the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock valued at $85,031,000 after buying an additional 830,823 shares during the period. Vanguard Group Inc. raised its holdings in Home BancShares by 3.1% in 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 buying an additional 621,751 shares during the period. Dimensional Fund Advisors LP lifted its position in Home BancShares by 9.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,720,491 shares of the financial services provider’s stock valued at $180,979,000 after buying an additional 559,603 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Home BancShares by 82.9% during the third quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock valued at $31,716,000 after buying an additional 508,127 shares in the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.
Home BancShares Trading Down 0.6%
HOMB opened at $31.23 on Thursday. The firm’s 50 day moving average is $28.89 and its 200-day moving average is $28.06. Home BancShares, Inc. has a 52-week low of $25.50 and a 52-week high of $31.70. 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 firm has a market capitalization of $6.29 billion, a P/E ratio of 12.90 and a beta of 0.69.
Home BancShares Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s dividend payout ratio is currently 34.71%.
Insider Buying and Selling at Home BancShares
In other news, CEO John Stephen Tipton sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was 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 in the company, valued at $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.39% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on HOMB. Piper Sandler reissued an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Stephens lifted their target price on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Citigroup reaffirmed a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Weiss Ratings upgraded Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.67.
Read Our Latest Stock Analysis on HOMB
About Home BancShares
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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