Home BancShares, Inc. (NYSE:HOMB) Stock Has Consensus Target Price of $33.00 According to Analysts

Home BancShares, Inc. (NYSE:HOMB) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $33.00.

Several brokerages have recently commented on HOMB. Citigroup reiterated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 target price (up from $30.00) on shares of Home BancShares in a research report on Wednesday, August 19th. Benchmark assumed coverage on Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Finally, Stephens raised their price target on Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, July 17th.

Insider Activity at Home BancShares

In related news, CEO John Tipton sold 12,000 shares of Home BancShares stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the sale, the chief executive officer directly owned 76,308 shares in the company, valued at $2,410,569.72. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Home BancShares by 14.5% in the 1st quarter. Bank of America Corp DE now owns 886,006 shares of the financial services provider’s stock worth $23,860,000 after acquiring an additional 111,888 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Home BancShares during the 2nd quarter valued at about $4,628,000. Norges Bank purchased a new stake in Home BancShares during the 4th quarter valued at about $66,673,000. Wellington Management Group LLP grew its stake in Home BancShares by 23.9% during the 2nd quarter. Wellington Management Group LLP now owns 977,284 shares of the financial services provider’s stock valued at $27,901,000 after purchasing an additional 188,710 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Home BancShares by 4.5% in the fourth quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider’s stock valued at $155,242,000 after purchasing an additional 238,548 shares during the period. Institutional investors and hedge funds own 67.31% of the company’s stock.

Home BancShares Trading Down 0.1%

NYSE HOMB opened at $28.55 on Friday. Home BancShares has a 52 week low of $25.50 and a 52 week high of $31.70. The company has a 50 day moving average price of $30.00 and a 200 day moving average price of $28.48. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $5.71 billion, a PE ratio of 11.80 and a beta of 0.72.

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

Home BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.2%. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 12th. Home BancShares’s dividend payout ratio is currently 38.02%.

About Home BancShares

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.