Pier Capital LLC lifted its stake in Home Bancshares Inc (NASDAQ:HOMB) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 295,723 shares of the financial services provider’s stock after purchasing an additional 26,411 shares during the period. Home Bancshares comprises about 1.2% of Pier Capital LLC’s investment portfolio, making the stock its 19th largest position. Pier Capital LLC owned 0.17% of Home Bancshares worth $6,876,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Home Bancshares by 39.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,255,372 shares of the financial services provider’s stock worth $107,318,000 after purchasing an additional 1,206,395 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Home Bancshares by 14.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,919,175 shares of the financial services provider’s stock worth $67,871,000 after purchasing an additional 374,266 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Home Bancshares by 70.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,417,724 shares of the financial services provider’s stock worth $56,213,000 after acquiring an additional 1,002,378 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Home Bancshares by 7.5% during the 4th quarter. Glenmede Trust Co. NA now owns 2,174,650 shares of the financial services provider’s stock worth $50,558,000 after acquiring an additional 151,231 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in 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 acquiring an additional 354,880 shares in the last quarter. Hedge funds and other institutional investors own 64.94% of the company’s stock.
HOMB has been the topic of several recent research reports. BidaskClub upgraded shares of Home Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Sandler O’Neill set a $26.00 target price on shares of Home Bancshares and gave the stock a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Home Bancshares from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $30.00 target price on shares of Home Bancshares in a report on Friday, December 22nd. Finally, Piper Jaffray Companies upgraded shares of Home Bancshares from a “neutral” rating to an “overweight” rating and set a $28.00 target price on the stock in a report on Thursday, March 1st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.79.
Home Bancshares stock opened at $24.52 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.76. Home Bancshares Inc has a 1-year low of $20.82 and a 1-year high of $28.47. The stock has a market cap of $4,261.21, a PE ratio of 18.16 and a beta of 1.15.
Home Bancshares (NASDAQ:HOMB) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $164.30 million during the quarter, compared to analyst estimates of $165.40 million. Home Bancshares had a net margin of 21.79% and a return on equity of 11.18%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. equities analysts anticipate that Home Bancshares Inc will post 1.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Tuesday, February 13th. Home Bancshares’s payout ratio is 48.35%.
Home Bancshares announced that its board has approved a stock buyback plan on Thursday, February 22nd that permits the company to buyback 5,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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