Basswood Capital Management L.L.C. Invests $4.75 Million in Home BancShares, Inc. $HOMB

Basswood Capital Management L.L.C. purchased a new stake in Home BancShares, Inc. (NYSE:HOMB) in the second quarter, according to its most recent filing with the SEC. The fund purchased 166,538 shares of the financial services provider’s stock, valued at approximately $4,755,000. Basswood Capital Management L.L.C. owned about 0.08% of Home BancShares at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 674 shares during the last quarter. Root Financial Partners LLC lifted its position in shares of Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after buying an additional 474 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Home BancShares in the 4th quarter worth about $36,000. Covestor Ltd boosted its holdings in shares of Home BancShares by 110.6% in the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock valued at $37,000 after buying an additional 697 shares during the period. Finally, Binnacle Investments Inc boosted its holdings in shares of Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after buying an additional 577 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

Home BancShares Stock Down 0.2%

HOMB stock opened at $29.83 on Thursday. The stock has a market cap of $5.97 billion, a PE ratio of 12.33 and a beta of 0.69. The firm’s 50-day simple moving average is $29.93 and its 200 day simple moving average is $28.24. Home BancShares, Inc. has a fifty-two week low of $25.50 and a fifty-two week high of $31.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16.

Home BancShares (NYSE:HOMB) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The firm had revenue of $295.10 million during the quarter, compared to analyst estimates of $288.70 million. During the same period in the previous year, the business posted $0.58 EPS. Home BancShares’s revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts predict that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares’s dividend payout ratio is presently 38.02%.

Analyst Upgrades and Downgrades

HOMB has been the topic of several research reports. Weiss Ratings upgraded shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $36.00 target price (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Benchmark initiated coverage on Home BancShares in a report on Wednesday, June 24th. They set a “hold” rating for the company. Citigroup reaffirmed a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of Home BancShares in a research report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Insider Buying and Selling at Home BancShares

In other news, CEO John Stephen Tipton sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the completion of the transaction, the chief executive officer directly owned 76,308 shares in the company, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.39% of the company’s stock.

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.