Zacks Investment Research cut shares of Home BancShares, Inc. (NASDAQ:HOMB) from a buy rating to a hold rating in a research report released on Wednesday, July 26th.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
A number of other equities analysts have also recently commented on the company. Piper Jaffray Companies restated a hold rating and set a $27.00 target price on shares of Home BancShares in a report on Friday, July 21st. Keefe, Bruyette & Woods reiterated a buy rating and issued a $30.00 price objective on shares of Home BancShares in a research note on Friday, July 21st. BidaskClub cut Home BancShares from a sell rating to a strong sell rating in a research note on Wednesday, July 12th. ValuEngine upgraded Home BancShares from a hold rating to a buy rating in a research note on Friday, July 7th. Finally, Merion Capital Group reissued a neutral rating and set a $28.50 target price on shares of Home BancShares in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Home BancShares has a consensus rating of Hold and an average price target of $28.70.
Home BancShares (NASDAQ HOMB) traded up 0.08% during mid-day trading on Wednesday, hitting $24.96. The company had a trading volume of 196,365 shares. Home BancShares has a 52-week low of $19.74 and a 52-week high of $29.69. The company has a market capitalization of $3.57 billion, a P/E ratio of 18.70 and a beta of 1.18. The company has a 50-day moving average price of $24.89 and a 200 day moving average price of $25.90.
Home BancShares (NASDAQ:HOMB) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Home BancShares had a return on equity of 13.77% and a net margin of 33.97%. The company had revenue of $131.77 million during the quarter, compared to analysts’ expectations of $132.18 million. During the same period last year, the business posted $0.31 EPS. On average, analysts forecast that Home BancShares will post $1.39 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be paid a $0.11 dividend. This is a positive change from Home BancShares’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Monday, August 14th. Home BancShares’s dividend payout ratio is presently 26.87%.
In other news, Chairman John W. Allison purchased 15,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was bought at an average cost of $25.46 per share, for a total transaction of $381,900.00. Following the completion of the purchase, the chairman now directly owns 4,968,396 shares of the company’s stock, valued at approximately $126,495,362.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracy French purchased 2,300 shares of the company’s stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $23.79 per share, with a total value of $54,717.00. The disclosure for this purchase can be found here. Insiders purchased 32,300 shares of company stock valued at $806,817 over the last quarter. Insiders own 11.27% of the company’s stock.
Several large investors have recently modified their holdings of HOMB. FMR LLC bought a new stake in shares of Home BancShares during the fourth quarter valued at $25,987,000. Norges Bank acquired a new position in shares of Home BancShares during the fourth quarter worth approximately $25,941,000. Teachers Advisors LLC increased its position in shares of Home BancShares by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 200,043 shares of the financial services provider’s stock worth $5,555,000 after buying an additional 5,106 shares in the last quarter. Bank of Montreal Can increased its position in shares of Home BancShares by 7.1% in the first quarter. Bank of Montreal Can now owns 12,009 shares of the financial services provider’s stock worth $325,000 after buying an additional 797 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its position in shares of Home BancShares by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 109,040 shares of the financial services provider’s stock worth $2,952,000 after buying an additional 400 shares in the last quarter. 60.51% of the stock is owned by institutional investors.
Home BancShares Company Profile
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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