Home BancShares (NYSE:HOMB) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Home BancShares (NYSE:HOMB) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other equities research analysts have also recently weighed in on the company. Citigroup reissued a “neutral” rating and issued a $32.00 price target (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Benchmark started coverage on Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Stephens upped their target price on Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Weiss Ratings raised shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Home BancShares has a consensus rating of “Hold” and a consensus price target of $32.67.

Home BancShares Price Performance

Shares of NYSE:HOMB opened at $30.74 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. Home BancShares has a 52 week low of $25.50 and a 52 week high of $31.70. The firm has a market cap of $6.19 billion, a PE ratio of 12.70 and a beta of 0.69. The firm’s fifty day moving average is $29.14 and its 200-day moving average is $28.11.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.Home BancShares’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Sell-side analysts predict that Home BancShares will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 12th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.0%. Home BancShares’s dividend payout ratio is currently 34.71%.

Insider Buying and Selling at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the transaction, the chief executive officer directly owned 76,308 shares of the company’s stock, valued at approximately $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.39% of the company’s stock.

Institutional Investors Weigh In On Home BancShares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC lifted its position in Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Home BancShares by 164.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 674 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Home BancShares during the 4th quarter worth approximately $36,000. Covestor Ltd raised its stake in shares of Home BancShares by 110.6% in the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc raised its stake in shares of Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 577 shares during the last quarter. Institutional investors and hedge funds 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.