Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Increases Dividend to $0.20 Per Share

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) declared a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Wednesday, August 14th will be given a dividend of 0.195 per share by the financial services provider on Wednesday, September 4th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, August 14th. This is a positive change from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18.

Home Bancshares, Inc. (Conway, AR) has raised its dividend by an average of 10.8% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Home Bancshares, Inc. (Conway, AR) has a dividend payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 34.3%.

Home Bancshares, Inc. (Conway, AR) Stock Performance

HOMB stock traded up $0.64 during trading on Thursday, reaching $28.33. 1,837,413 shares of the stock were exchanged, compared to its average volume of 994,800. Home Bancshares, Inc. has a twelve month low of $19.61 and a twelve month high of $28.57. The company has a market capitalization of $5.68 billion, a P/E ratio of 14.59 and a beta of 1.07. The stock has a 50 day simple moving average of $24.11 and a 200-day simple moving average of $23.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.45.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $254.60 million for the quarter, compared to the consensus estimate of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, sell-side analysts anticipate that Home Bancshares, Inc. will post 2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HOMB. Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday, July 18th. Royal Bank of Canada lifted their price objective on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Piper Sandler boosted their target price on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.25.

Insider Transactions at Home Bancshares, Inc. (Conway, AR)

In related news, CAO Jennifer C. Floyd sold 2,333 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $24.53, for a total value of $57,228.49. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at approximately $24,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kevin Hester sold 25,263 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $27.00, for a total value of $682,101.00. Following the completion of the transaction, the insider now owns 114,912 shares in the company, valued at approximately $3,102,624. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer C. Floyd sold 2,333 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $24.53, for a total transaction of $57,228.49. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at approximately $24,530. The disclosure for this sale can be found here. Insiders have sold 42,987 shares of company stock valued at $1,153,193 in the last three months. 7.66% of the stock is owned by corporate insiders.

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

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.