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Wall Street Zen upgraded shares of Home BancShares (NYSE:HOMB – Free Report) from a sell rating to a hold rating in a research report released on Sunday.
Several other research firms have also weighed in on HOMB. Cantor Fitzgerald restated a “neutral” rating on shares of Home BancShares in a report on Thursday, July 16th. Benchmark initiated coverage on Home BancShares in a report on Wednesday, June 24th. They set a “hold” rating on the stock. Piper Sandler reissued 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. Stephens boosted their price objective 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, Citigroup restated a “neutral” rating and issued a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.67.
Check Out Our Latest Stock Report on HOMB
Home BancShares Trading Down 0.4%
Home BancShares (NYSE:HOMB – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company 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 business’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 earnings per share. On average, analysts forecast that Home BancShares will post 2.51 earnings per share for the current fiscal year.
Home BancShares Increases Dividend
The firm 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 of this dividend is Wednesday, August 12th. This represents a $0.92 annualized dividend 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 presently 38.02%.
Insiders Place Their Bets
In related news, CEO John Stephen Tipton sold 12,000 shares of the stock in a transaction that occurred on 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 owned 76,308 shares in the company, valued at $2,410,569.72. This represents a 13.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.39% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Home BancShares by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider’s stock worth $12,453,000 after acquiring an additional 15,259 shares during the last quarter. Jane Street Group LLC raised its stake in Home BancShares by 82.7% during the 1st quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider’s stock valued at $7,826,000 after purchasing an additional 125,301 shares during the last quarter. Baird Financial Group Inc. raised its stake in Home BancShares by 13.2% during the 2nd quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 2,500 shares during the last quarter. Marshall Wace LLP bought a new stake in Home BancShares in the 2nd quarter valued at $1,015,000. Finally, Jump Financial LLC bought a new stake in Home BancShares in the 2nd quarter valued at $230,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.
Home BancShares Company 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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