Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Reaches New 52-Week High – Here’s What Happened

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)’s share price reached a new 52-week high on Friday . The company traded as high as $31.42 and last traded at $31.41, with a volume of 92247 shares trading hands. The stock had previously closed at $30.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HOMB shares. StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Sandler lifted their price target on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a report on Friday, October 18th. Finally, Stephens boosted their target price on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $28.25.

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

The company has a 50-day moving average price of $27.83 and a 200-day moving average price of $26.16. The firm has a market capitalization of $6.27 billion, a PE ratio of 15.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.91 and a quick ratio of 0.91.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The firm had revenue of $258.00 million for the quarter, compared to analyst estimates of $258.90 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. Sell-side analysts forecast that Home Bancshares, Inc. will post 2.04 EPS for the current year.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 40.21%.

Insider Activity

In other news, Director Jack Engelkes sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the transaction, the director now directly owns 199,195 shares in the company, valued at $5,999,753.40. This trade represents a 11.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Pat Hickman sold 63,997 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $30.77, for a total transaction of $1,969,187.69. Following the sale, the director now directly owns 175,500 shares of the company’s stock, valued at approximately $5,400,135. This trade represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,997 shares of company stock valued at $2,782,548 in the last 90 days. 7.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Home Bancshares, Inc. (Conway, AR) by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,550,418 shares of the financial services provider’s stock valued at $156,946,000 after buying an additional 490,718 shares during the last quarter. Geode Capital Management LLC increased its holdings in Home Bancshares, Inc. (Conway, AR) by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,144 shares of the financial services provider’s stock worth $120,983,000 after purchasing an additional 60,588 shares during the last quarter. Copeland Capital Management LLC raised its position in shares of Home Bancshares, Inc. (Conway, AR) by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 3,240,644 shares of the financial services provider’s stock valued at $87,789,000 after purchasing an additional 28,604 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,166,894 shares of the financial services provider’s stock valued at $51,919,000 after buying an additional 11,499 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,046,153 shares of the financial services provider’s stock worth $55,430,000 after buying an additional 134,741 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

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.