Zacks Investment Research Downgrades Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) to Hold

Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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. “

HOMB has been the topic of a number of other research reports. Raymond James cut shares of Home Bancshares, Inc. (Conway, AR) from an “outperform” rating to a “market perform” rating in a research report on Friday, July 16th. Citigroup boosted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $22.00 to $27.00 in a research report on Wednesday, April 14th.

NASDAQ HOMB opened at $22.21 on Tuesday. Home Bancshares, Inc. has a 52-week low of $14.42 and a 52-week high of $29.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.95. The company has a market cap of $3.66 billion, a P/E ratio of 11.39 and a beta of 1.52. The stock’s fifty day moving average is $25.65.

Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) last posted its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Home Bancshares, Inc. (Conway, AR) had a net margin of 40.76% and a return on equity of 11.86%. The company had revenue of $172.40 million during the quarter, compared to the consensus estimate of $174.17 million. During the same period in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 174.5% compared to the same quarter last year. As a group, sell-side analysts predict that Home Bancshares, Inc. will post 1.81 earnings per share for the current fiscal year.

In other Home Bancshares, Inc. (Conway, AR) news, Director Jim Rankin sold 2,404 shares of the company’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $28.06, for a total value of $67,456.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.79% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Home Bancshares, Inc. (Conway, AR) during the fourth quarter valued at approximately $29,900,000. BlackRock Inc. lifted its position in Home Bancshares, Inc. (Conway, AR) by 6.6% during the first quarter. BlackRock Inc. now owns 18,877,117 shares of the financial services provider’s stock valued at $510,627,000 after purchasing an additional 1,174,843 shares during the period. Fenimore Asset Management Inc. lifted its position in Home Bancshares, Inc. (Conway, AR) by 70.5% during the first quarter. Fenimore Asset Management Inc. now owns 815,738 shares of the financial services provider’s stock valued at $22,066,000 after purchasing an additional 337,230 shares during the period. Brown Advisory Inc. bought a new position in Home Bancshares, Inc. (Conway, AR) during the first quarter valued at approximately $7,589,000. Finally, JPMorgan Chase & Co. lifted its position in Home Bancshares, Inc. (Conway, AR) by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,205,573 shares of the financial services provider’s stock valued at $23,485,000 after purchasing an additional 235,106 shares during the period. Hedge funds and other institutional investors own 67.27% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) Company Profile

Home Bancshares, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary Centennial Bank. It primarily offers a range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals, and municipalities.

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