Zacks Investment Research lowered shares of Home Bancshares (NASDAQ:HOMB) from a buy rating to a hold rating in a report issued on Monday morning.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
A number of other analysts also recently issued reports on HOMB. BidaskClub downgraded shares of Home Bancshares from a hold rating to a sell rating in a report on Wednesday, May 30th. Citigroup initiated coverage on shares of Home Bancshares in a report on Monday, June 18th. They set a buy rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $27.43.
HOMB opened at $23.44 on Monday. The firm has a market cap of $4.09 billion, a PE ratio of 17.34 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Home Bancshares has a one year low of $20.82 and a one year high of $25.89.
Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. Home Bancshares had a net margin of 26.27% and a return on equity of 11.41%. The company had revenue of $166.29 million during the quarter, compared to the consensus estimate of $167.50 million. During the same period in the previous year, the firm posted $0.35 EPS. sell-side analysts forecast that Home Bancshares will post 1.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Wednesday, August 15th were issued a dividend of $0.12 per share. This is an increase from Home Bancshares’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Tuesday, August 14th. Home Bancshares’s payout ratio is currently 35.56%.
In other news, insider Jennifer C. Floyd sold 2,000 shares of Home Bancshares stock in a transaction on Friday, August 24th. The shares were sold at an average price of $23.88, for a total transaction of $47,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.15% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Home Bancshares by 5.8% in the second quarter. BlackRock Inc. now owns 18,236,202 shares of the financial services provider’s stock worth $411,409,000 after purchasing an additional 1,006,179 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Home Bancshares by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,809,059 shares of the financial services provider’s stock worth $86,885,000 after purchasing an additional 28,473 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Home Bancshares by 2.6% in the first quarter. Westwood Holdings Group Inc. now owns 2,480,491 shares of the financial services provider’s stock worth $56,580,000 after purchasing an additional 62,767 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Home Bancshares by 2.9% in the second quarter. Glenmede Trust Co. NA now owns 2,238,798 shares of the financial services provider’s stock worth $50,508,000 after purchasing an additional 64,148 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Home Bancshares by 41.3% in the second quarter. American Century Companies Inc. now owns 2,100,845 shares of the financial services provider’s stock worth $47,395,000 after purchasing an additional 614,094 shares during the last quarter. 64.36% of the stock is owned by institutional investors.
About Home Bancshares
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, NOW, and money market accounts, as well as certificates of deposit.
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