Pitcairn Co. cut its position in shares of Home Bancshares Inc (NASDAQ:HOMB) by 26.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,580 shares of the financial services provider’s stock after selling 6,529 shares during the period. Pitcairn Co.’s holdings in Home Bancshares were worth $432,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in HOMB. Dimensional Fund Advisors LP boosted its holdings in shares of Home Bancshares by 39.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,255,372 shares of the financial services provider’s stock worth $107,318,000 after buying an additional 1,206,395 shares during the period. Mountain Pacific Investment Advisers Inc. ID bought a new stake in shares of Home Bancshares during the 4th quarter worth about $14,148,000. Barr E S & Co. boosted its holdings in shares of Home Bancshares by 213.3% during the 3rd quarter. Barr E S & Co. now owns 678,069 shares of the financial services provider’s stock worth $17,101,000 after buying an additional 461,649 shares during the period. Oak Ridge Investments LLC bought a new stake in shares of Home Bancshares during the 3rd quarter worth about $10,993,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Home Bancshares by 23.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,871,089 shares of the financial services provider’s stock worth $47,190,000 after buying an additional 354,880 shares during the period. Institutional investors own 64.94% of the company’s stock.
In other news, Director Richard H. Ashley sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $25.01, for a total transaction of $7,503,000.00. Following the completion of the sale, the director now owns 145,354 shares of the company’s stock, valued at approximately $3,635,303.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.15% of the company’s stock.
Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Home Bancshares had a net margin of 21.79% and a return on equity of 11.18%. The firm had revenue of $164.30 million during the quarter, compared to the consensus estimate of $165.40 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. research analysts forecast that Home Bancshares Inc will post 1.75 earnings per share for the current fiscal year.
Home Bancshares announced that its Board of Directors has authorized a share buyback program on Thursday, February 22nd that permits the company to buyback 5,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, February 13th. Home Bancshares’s dividend payout ratio (DPR) is presently 39.29%.
Several brokerages recently commented on HOMB. Piper Jaffray Companies raised shares of Home Bancshares from a “neutral” rating to an “overweight” rating and set a $28.00 target price for the company in a report on Thursday, March 1st. Zacks Investment Research downgraded shares of Home Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. BidaskClub raised shares of Home Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Sandler O’Neill set a $26.00 price objective on shares of Home Bancshares and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 price objective on shares of Home Bancshares in a report on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Home Bancshares has an average rating of “Hold” and a consensus price target of $27.79.
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Home Bancshares 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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