Allspring Global Investments Holdings LLC Has $10.70 Million Stake in Home BancShares, Inc. $HOMB

Allspring Global Investments Holdings LLC trimmed its holdings in Home BancShares, Inc. (NYSE:HOMB) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 364,567 shares of the financial services provider’s stock after selling 6,692 shares during the period. Allspring Global Investments Holdings LLC owned about 0.18% of Home BancShares worth $10,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Home BancShares in the first quarter valued at about $39,000. Summit Securities Group LLC acquired a new position in Home BancShares in the first quarter valued at about $64,000. GAMMA Investing LLC lifted its holdings in shares of Home BancShares by 60.8% in the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 995 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Home BancShares by 25.6% in the second quarter. UMB Bank n.a. now owns 3,323 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 677 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Home BancShares by 155.8% in the first quarter. Geneos Wealth Management Inc. now owns 3,817 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 2,325 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Home BancShares Stock Performance

HOMB opened at $27.19 on Friday. Home BancShares, Inc. has a 52-week low of $24.22 and a 52-week high of $32.90. The firm has a market capitalization of $5.36 billion, a PE ratio of 11.72 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day simple moving average is $28.77 and its 200 day simple moving average is $28.33.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, October 15th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Home BancShares had a return on equity of 10.94% and a net margin of 31.20%.The business had revenue of $277.70 million for the quarter, compared to analyst estimates of $269.96 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Home BancShares’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, August 13th. Home BancShares’s dividend payout ratio is presently 34.48%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Home BancShares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $32.00 price target on the stock. Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a report on Sunday, October 12th. Weiss Ratings restated a “buy (b)” rating on shares of Home BancShares in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, July 21st. Finally, Piper Sandler set a $34.00 price target on Home BancShares and gave the company an “overweight” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Insider Transactions at Home BancShares

In other Home BancShares news, CEO John W. Allison sold 110,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total value of $3,302,200.00. Following the sale, the chief executive officer owned 5,540,776 shares in the company, valued at $166,334,095.52. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.30% of the company’s stock.

About Home BancShares

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.