Home Bancshares, Inc. (Conway, AR) (HOMB) to Issue Quarterly Dividend of $0.20 on March 5th

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be paid a dividend of 0.195 per share by the financial services provider on Wednesday, March 5th. This represents a $0.78 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, February 12th.

Home Bancshares, Inc. (Conway, AR) has raised its dividend by an average of 10.2% per year over the last three years and has raised its dividend every year for the last 14 years. Home Bancshares, Inc. (Conway, AR) has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 35.0%.

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

NYSE HOMB opened at $29.88 on Thursday. The firm’s 50 day moving average is $29.73 and its 200-day moving average is $28.00. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. Home Bancshares, Inc. has a 12-month low of $22.38 and a 12-month high of $32.90. The company has a market capitalization of $5.94 billion, a PE ratio of 14.79 and a beta of 1.10.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). The business had revenue of $258.40 million for the quarter, compared to analyst estimates of $256.67 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 27.39% and a return on equity of 10.31%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. Equities research analysts anticipate that Home Bancshares, Inc. will post 2.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

HOMB has been the topic of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Hovde Group dropped their price target on shares of Home Bancshares, Inc. (Conway, AR) from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Piper Sandler boosted their price target on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Stephens restated an “overweight” rating and set a $34.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.00.

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.