Y Intercept Hong Kong Ltd Reduces Holdings in Home BancShares, Inc. $HOMB

Y Intercept Hong Kong Ltd decreased its position in shares of Home BancShares, Inc. (NYSE:HOMB) by 32.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,070 shares of the financial services provider’s stock after selling 27,372 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Home BancShares were worth $1,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in HOMB. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Home BancShares by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider’s stock worth $12,453,000 after purchasing an additional 15,259 shares during the period. Jane Street Group LLC raised its position in Home BancShares by 82.7% in the 1st quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider’s stock worth $7,826,000 after purchasing an additional 125,301 shares during the period. Baird Financial Group Inc. raised its position in Home BancShares by 13.2% in the 2nd quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 2,500 shares during the period. Marshall Wace LLP bought a new stake in Home BancShares in the second quarter worth about $1,015,000. Finally, Jump Financial LLC bought a new stake in Home BancShares in the second quarter worth about $230,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Trading Up 1.5%

Shares of HOMB opened at $28.63 on Friday. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 11.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $30.83. The company has a 50-day moving average of $27.34 and a 200 day moving average of $27.76.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. The business had revenue of $266.71 million for the quarter, compared to the consensus estimate of $274.06 million. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. On average, research analysts expect that Home BancShares, Inc. will post 2.48 EPS for the current year.

Home BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.21 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. Home BancShares’s payout ratio is presently 34.57%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Benchmark initiated coverage on Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating for the company. Weiss Ratings downgraded Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Stephens dropped their price objective on Home BancShares from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Finally, Keefe, Bruyette & Woods cut their price objective on Home BancShares from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Home BancShares currently has an average rating of “Hold” and an average price target of $31.20.

Insider Activity at Home BancShares

In other news, CEO John W. Allison acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average price of $26.96 per share, with a total value of $2,696,000.00. Following the completion of the purchase, the chief executive officer directly owned 5,798,926 shares in the company, valued at $156,339,044.96. This trade represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer C. Floyd sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total value of $81,330.00. Following the transaction, the chief accounting officer owned 4,635 shares in the company, valued at $125,654.85. The trade was a 39.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.39% of the stock is owned by corporate insiders.

About Home BancShares

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.