Home BancShares (NYSE:HOMB) Releases Earnings Results

Home BancShares (NYSE:HOMB) posted its earnings results on Wednesday. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02, FiscalAI reports. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%.

Home BancShares Trading Up 1.0%

Shares of NYSE:HOMB traded up $0.28 during midday trading on Wednesday, reaching $29.28. 2,306,610 shares of the company’s stock were exchanged, compared to its average volume of 1,572,132. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 12.05 and a beta of 0.68. Home BancShares has a fifty-two week low of $25.50 and a fifty-two week high of $30.83. The firm’s 50 day simple moving average is $27.47 and its two-hundred day simple moving average is $27.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

Home BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, May 13th. Home BancShares’s dividend payout ratio is 34.57%.

Analyst Ratings Changes

HOMB has been the topic of a number of recent analyst reports. Stephens lowered their price target on Home BancShares from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. Weiss Ratings lowered Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $30.00 price target (down from $31.00) on shares of Home BancShares in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Finally, Benchmark assumed coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating for the company. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Home BancShares has an average rating of “Hold” and an average target price of $31.20.

Insider Buying and Selling

In related news, CAO Jennifer C. Floyd sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total transaction of $81,330.00. Following the completion of the transaction, the chief accounting officer owned 4,635 shares of the company’s stock, valued at approximately $125,654.85. This trade represents a 39.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Allison purchased 100,000 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were purchased at an average price of $26.96 per share, for a total transaction of $2,696,000.00. Following the completion of the purchase, the chief executive officer directly owned 5,798,926 shares of the company’s stock, valued at $156,339,044.96. This represents a 1.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Home BancShares

Large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its stake in Home BancShares by 164.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 674 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Home BancShares during the fourth quarter worth approximately $36,000. Binnacle Investments Inc increased its stake in Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 577 shares during the last quarter. Danske Bank A S acquired a new position in shares of Home BancShares in the 3rd quarter valued at $57,000. Finally, Parkside Financial Bank & Trust raised its stake in Home BancShares by 32.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,238 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 799 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.