Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Reaches New 12-Month High at $28.92

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $28.92 and last traded at $28.84, with a volume of 1132735 shares. The stock had previously closed at $28.12.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HOMB. Stephens reiterated an “overweight” rating and issued a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Thursday, July 18th. Piper Sandler boosted their target price on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Finally, StockNews.com raised shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Home Bancshares, Inc. (Conway, AR) presently has an average rating of “Hold” and an average target price of $27.25.

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

The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 14.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day simple moving average of $24.34 and a two-hundred day simple moving average of $24.03.

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 for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $254.60 million for the quarter, compared to analysts’ expectations of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 27.29% and a return on equity of 10.41%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. On average, equities research analysts predict that Home Bancshares, Inc. will post 2.05 earnings per share for the current year.

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

The firm 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 an increase 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 2.71%. Home Bancshares, Inc. (Conway, AR)’s payout ratio is currently 37.11%.

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

In other news, CFO Brian Davis sold 15,391 shares of the firm’s 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 of the company’s stock, valued at $2,398,372.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kevin Hester sold 25,263 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction on Friday, July 19th. The stock was sold at an average price of $27.00, for a total transaction of $682,101.00. Following the transaction, the insider now directly owns 114,912 shares in the company, valued at approximately $3,102,624. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Davis sold 15,391 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $26.89, for a total value of $413,863.99. Following the completion of the sale, the chief financial officer now owns 89,192 shares of the company’s stock, valued at approximately $2,398,372.88. The disclosure for this sale can be found here. 7.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the 4th quarter worth $54,498,000. International Assets Investment Management LLC increased its stake in Home Bancshares, Inc. (Conway, AR) by 2,433.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,216,752 shares of the financial services provider’s stock worth $30,820,000 after purchasing an additional 1,168,716 shares in the last quarter. Wellington Management Group LLP raised its holdings in Home Bancshares, Inc. (Conway, AR) by 21.5% during the 4th quarter. Wellington Management Group LLP now owns 3,340,511 shares of the financial services provider’s stock worth $84,615,000 after buying an additional 590,301 shares during the period. Dimensional Fund Advisors LP lifted 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 valued at $139,240,000 after buying an additional 432,091 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Home Bancshares, Inc. (Conway, AR) by 10.7% in 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 and hedge funds.

About Home Bancshares, Inc. (Conway, AR)

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.