Home BancShares (NYSE:HOMB) CEO John Stephen Tipton Sells 12,000 Shares

Home BancShares, Inc. (NYSE:HOMB) CEO John Stephen Tipton sold 12,000 shares of the business’s 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 owned 76,308 shares of the company’s stock, valued at $2,410,569.72. The trade was a 13.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Home BancShares Stock Down 0.6%

Shares of NYSE:HOMB opened at $31.23 on Thursday. The business’s 50 day moving average is $28.89 and its 200 day moving average is $28.06. The stock has a market cap of $6.29 billion, a P/E ratio of 12.90 and a beta of 0.69. Home BancShares, Inc. has a 52-week low of $25.50 and a 52-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 0.18.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.The business 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 company posted $0.58 EPS. Home BancShares’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts predict that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. Home BancShares’s dividend payout ratio is presently 34.71%.

Institutional Investors Weigh In On Home BancShares

A number of institutional investors have recently added to or reduced their stakes in HOMB. Trust Point Inc. purchased a new position in Home BancShares in the second quarter valued at about $205,000. Kwmg LLC lifted its position in shares of Home BancShares by 2.6% during the second quarter. Kwmg LLC now owns 266,746 shares of the financial services provider’s stock valued at $7,616,000 after buying an additional 6,820 shares during the last quarter. Apella Capital LLC lifted its position in shares of Home BancShares by 41.6% during the second quarter. Apella Capital LLC now owns 14,534 shares of the financial services provider’s stock valued at $417,000 after buying an additional 4,273 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Home BancShares by 153.3% during the second quarter. Versant Capital Management Inc now owns 1,857 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,124 shares during the last quarter. Finally, Cim Investment Management Inc. boosted its holdings in shares of Home BancShares by 41.3% in the 1st quarter. Cim Investment Management Inc. now owns 11,999 shares of the financial services provider’s stock valued at $323,000 after buying an additional 3,508 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HOMB. Keefe, Bruyette & Woods increased their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Weiss Ratings upgraded shares of Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Home BancShares in a research report on Thursday, July 16th. Piper Sandler reiterated an “overweight” rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Finally, Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.67.

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.