Odyssean LLC Has $3 Million Position in Home BancShares, Inc. $HOMB

Odyssean LLC increased its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 93.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,232 shares of the financial services provider’s stock after purchasing an additional 50,943 shares during the period. Odyssean LLC’s holdings in Home BancShares were worth $3,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Root Financial Partners LLC increased its stake in Home BancShares by 76.9% during the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Home BancShares by 164.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after buying an additional 674 shares during the period. Kestra Advisory Services LLC bought a new position in Home BancShares in the fourth quarter valued at approximately $36,000. Covestor Ltd lifted its stake in Home BancShares by 110.6% in the fourth 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 in the last quarter. Finally, Binnacle Investments Inc lifted its stake in Home BancShares by 76.7% in the second 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 in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO John Tipton sold 12,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 76,308 shares of the company’s stock, valued at approximately $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.39% of the company’s stock.

Home BancShares Trading Up 0.5%

NYSE HOMB opened at $30.16 on Friday. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $31.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50 day moving average price is $30.12 and its two-hundred day moving average price is $28.24. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 12.46 and a beta of 0.67.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping 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 analysts’ expectations of $288.70 million. During the same period last year, the business earned $0.58 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 12th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.1%. Home BancShares’s dividend payout ratio is currently 38.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Benchmark assumed coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating for the company. Citigroup reaffirmed a “neutral” rating and issued a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods upped their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Stephens increased their target price on Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $36.00 target price (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.83.

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.