Olstein Capital Management L.P. Reduces Stock Holdings in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

Olstein Capital Management L.P. lowered its stake in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the financial services provider’s stock after selling 10,000 shares during the period. Olstein Capital Management L.P.’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $1,414,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HOMB. Fenimore Asset Management Inc increased its position in shares of Home Bancshares, Inc. (Conway, AR) by 0.5% during the first quarter. Fenimore Asset Management Inc now owns 511,023 shares of the financial services provider’s stock valued at $14,447,000 after buying an additional 2,673 shares during the period. UMB Bank n.a. lifted its holdings in Home Bancshares, Inc. (Conway, AR) by 32.4% in the first quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider’s stock worth $75,000 after buying an additional 647 shares during the period. Vest Financial LLC bought a new stake in Home Bancshares, Inc. (Conway, AR) during the 1st quarter valued at approximately $1,691,000. Kwmg LLC grew its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 0.3% during the 1st quarter. Kwmg LLC now owns 242,066 shares of the financial services provider’s stock worth $6,843,000 after acquiring an additional 627 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 4,445.3% during the 1st quarter. GAMMA Investing LLC now owns 74,407 shares of the financial services provider’s stock worth $21,030,000 after acquiring an additional 72,770 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Home Bancshares, Inc. (Conway, AR) news, insider Kevin Hester sold 7,128 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $28.67, for a total value of $204,359.76. Following the transaction, the insider now owns 124,912 shares of the company’s stock, valued at approximately $3,581,227.04. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer C. Floyd sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $27.45, for a total value of $68,625.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,301 shares in the company, valued at $118,062.45. The trade was a 36.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HOMB shares. Royal Bank of Canada decreased their price objective on Home Bancshares, Inc. (Conway, AR) from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Thursday, April 24th. Finally, Stephens reiterated an “overweight” rating and set a $33.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a report on Monday, April 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.40.

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

Shares of HOMB opened at $28.43 on Monday. Home Bancshares, Inc. has a twelve month low of $22.42 and a twelve month high of $32.91. The company has a market capitalization of $5.61 billion, a P/E ratio of 14.07 and a beta of 0.80. The firm has a 50 day moving average of $27.60 and a 200 day moving average of $28.83. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 0.26.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.31% and a net margin of 27.39%. The business had revenue of $260.08 million for the quarter, compared to the consensus estimate of $255.20 million. As a group, equities research analysts anticipate that Home Bancshares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home Bancshares, Inc. (Conway, AR) Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This is a boost from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.20. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is 38.10%.

Home Bancshares, Inc. (Conway, AR) 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.