Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) from a sell rating to a hold rating in a research note published on Wednesday.

Several other equities analysts have also recently issued reports on the stock. Stephens restated an overweight rating and issued a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Thursday, July 18th. Piper Sandler upped their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an overweight rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada upped their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company a sector perform rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $27.25.

Home Bancshares, Inc. (Conway, AR) Price Performance

HOMB stock opened at $28.53 on Wednesday. The company has a 50 day simple moving average of $24.26 and a 200 day simple moving average of $24.00. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 14.71 and a beta of 1.07. Home Bancshares, Inc. has a 1 year low of $19.61 and a 1 year high of $28.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.90 and a quick ratio of 0.90.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Home Bancshares, Inc. (Conway, AR) had a net margin of 27.29% and a return on equity of 10.41%. The business had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $247.26 million. During the same period in the prior year, the company earned $0.51 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that Home Bancshares, Inc. will post 2.05 EPS for the current fiscal year.

Home Bancshares, Inc. (Conway, AR) Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This is a boost from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 2.73%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is 37.11%.

Insider Transactions at Home Bancshares, Inc. (Conway, AR)

In other news, insider Kevin Hester sold 25,263 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $27.00, for a total transaction of $682,101.00. Following the completion of the sale, the insider now directly owns 114,912 shares in the company, valued at $3,102,624. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Kevin Hester sold 25,263 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $27.00, for a total transaction of $682,101.00. Following the completion of the sale, the insider now directly owns 114,912 shares in the company, valued at $3,102,624. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian Davis sold 15,391 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $26.89, for a total transaction of $413,863.99. Following the transaction, the chief financial officer now directly owns 89,192 shares in the company, valued at $2,398,372.88. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Home Bancshares, Inc. (Conway, AR) by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,496,911 shares of the financial services provider’s stock worth $139,240,000 after acquiring an additional 432,091 shares in the last quarter. Wellington Management Group LLP boosted its stake in Home Bancshares, Inc. (Conway, AR) by 21.5% during the fourth quarter. Wellington Management Group LLP now owns 3,340,511 shares of the financial services provider’s stock worth $84,615,000 after acquiring an additional 590,301 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Home Bancshares, Inc. (Conway, AR) by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 2,166,894 shares of the financial services provider’s stock worth $51,919,000 after acquiring an additional 11,499 shares in the last quarter. Norges Bank bought a new position in Home Bancshares, Inc. (Conway, AR) during the fourth quarter worth $54,498,000. Finally, Goldman Sachs Group Inc. boosted its stake in Home Bancshares, Inc. (Conway, AR) by 10.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,106,693 shares of the financial services provider’s stock worth $53,363,000 after acquiring an additional 203,566 shares in the last quarter. 67.31% of the stock is owned by institutional investors.

Home Bancshares, Inc. (Conway, AR) Company Profile

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.