Home BancShares (NYSE:HOMB) Announces Quarterly Earnings Results

Home BancShares (NYSE:HOMB) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02, FiscalAI reports. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%.

Home BancShares Price Performance

NYSE:HOMB traded up $0.28 during mid-day trading on Wednesday, hitting $29.28. The company’s stock had a trading volume of 2,306,810 shares, compared to its average volume of 1,572,132. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 12.05 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. Home BancShares has a fifty-two week low of $25.50 and a fifty-two week high of $30.83. The stock has a fifty day moving average of $27.47 and a 200-day moving average of $27.77.

Home BancShares Dividend Announcement

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

Insider Activity at Home BancShares

In related news, CEO John W. Allison purchased 100,000 shares of the stock in a transaction on Friday, April 17th. The shares were purchased at an average cost of $26.96 per share, for a total transaction of $2,696,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,798,926 shares of the company’s stock, valued at approximately $156,339,044.96. The trade was a 1.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer C. Floyd sold 3,000 shares of the 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 of the company’s stock, valued at $125,654.85. This represents a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.39% of the company’s stock.

Institutional Investors Weigh In On Home BancShares

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of Home BancShares by 37.3% in the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock valued at $85,031,000 after acquiring an additional 830,823 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Home BancShares by 82.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock worth $31,716,000 after acquiring an additional 508,127 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Home BancShares during the 2nd quarter worth approximately $12,931,000. Bank of America Corp DE grew its position in Home BancShares by 68.9% during the 3rd quarter. Bank of America Corp DE now owns 845,914 shares of the financial services provider’s stock worth $23,939,000 after acquiring an additional 345,027 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in Home BancShares by 121.1% during the 4th quarter. Voloridge Investment Management LLC now owns 584,970 shares of the financial services provider’s stock valued at $16,250,000 after purchasing an additional 320,433 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HOMB shares. Stephens reduced their target price on shares of Home BancShares from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Keefe, Bruyette & Woods cut their price target on Home BancShares from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Weiss Ratings downgraded Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $30.00 price objective (down from $31.00) on shares of Home BancShares in a report on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.20.

Home BancShares Company Profile

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.