Home BancShares, Inc. (NASDAQ:HOMB) Sees Large Decrease in Short Interest

Home BancShares, Inc. (NASDAQ:HOMB) saw a significant decrease in short interest during the month of October. As of October 13th, there was short interest totalling 7,005,324 shares, a decrease of 20.1% from the September 29th total of 8,770,673 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average daily volume of 856,025 shares, the days-to-cover ratio is currently 8.2 days.

HOMB has been the topic of several research reports. Sandler O’Neill downgraded Home BancShares from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Friday, October 20th. Stephens reaffirmed an “overweight” rating and issued a $28.00 target price (down previously from $29.00) on shares of Home BancShares in a research report on Tuesday, September 12th. Zacks Investment Research downgraded Home BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Piper Jaffray Companies reissued a “hold” rating and set a $27.00 price target on shares of Home BancShares in a research report on Friday, July 21st. Finally, ValuEngine downgraded Home BancShares from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Home BancShares has a consensus rating of “Hold” and an average price target of $27.79.

Shares of Home BancShares (HOMB) traded down $0.02 during mid-day trading on Friday, hitting $21.39. The company’s stock had a trading volume of 846,400 shares, compared to its average volume of 874,762. Home BancShares has a 52-week low of $20.82 and a 52-week high of $29.69. The firm has a market cap of $3,717.71, a P/E ratio of 15.86 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.01.

Home BancShares (NASDAQ:HOMB) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). Home BancShares had a net margin of 28.19% and a return on equity of 12.00%. The firm had revenue of $128.23 million during the quarter, compared to the consensus estimate of $135.55 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. analysts expect that Home BancShares will post 1.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Wednesday, November 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Tuesday, November 14th. Home BancShares’s payout ratio is 38.94%.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Home BancShares by 37,629.8% during the 1st quarter. BlackRock Inc. now owns 16,430,592 shares of the financial services provider’s stock worth $444,776,000 after purchasing an additional 16,387,044 shares during the last quarter. Vanguard Group Inc. raised its position in Home BancShares by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 11,113,886 shares of the financial services provider’s stock worth $300,852,000 after purchasing an additional 973,217 shares during the last quarter. State Street Corp raised its position in shares of Home BancShares by 34.9% in the 2nd quarter. State Street Corp now owns 6,100,422 shares of the financial services provider’s stock worth $151,902,000 after acquiring an additional 1,579,605 shares in the last quarter. Northern Trust Corp raised its position in shares of Home BancShares by 19.6% in the 2nd quarter. Northern Trust Corp now owns 3,470,629 shares of the financial services provider’s stock worth $86,419,000 after acquiring an additional 569,061 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Home BancShares by 7.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,259,933 shares of the financial services provider’s stock worth $56,272,000 after acquiring an additional 166,283 shares in the last quarter. 49.85% of the stock is owned by institutional investors and hedge funds.

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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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