Wellington Management Group LLP Acquires 188,710 Shares of Home BancShares, Inc. $HOMB

Wellington Management Group LLP boosted its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 977,284 shares of the financial services provider’s stock after acquiring an additional 188,710 shares during the period. Wellington Management Group LLP’s holdings in Home BancShares were worth $27,901,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Home BancShares in the second quarter worth about $735,643,000. Norges Bank purchased a new position in shares of Home BancShares during the fourth quarter valued at approximately $66,673,000. Azora Capital LP bought a new stake in shares of Home BancShares in the 2nd quarter worth approximately $62,027,000. Bank of New York Mellon Corp purchased a new stake in shares of Home BancShares in the 2nd quarter worth approximately $44,068,000. Finally, First Trust Advisors LP grew its stake in shares of Home BancShares by 37.3% in the 4th quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock worth $85,031,000 after buying an additional 830,823 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HOMB shares. Benchmark began coverage on Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating for the company. Weiss Ratings raised Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Stephens increased their price objective on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Citigroup restated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $36.00 target price (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.83.

Home BancShares Trading Up 0.5%

Home BancShares stock opened at $30.16 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. Home BancShares, Inc. has a one year low of $25.50 and a one year high of $31.70. The stock has a market capitalization of $6.03 billion, a PE ratio of 12.46 and a beta of 0.67. The business’s fifty day moving average is $30.12 and its 200 day moving average is $28.24.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $295.10 million during the quarter, compared to analyst estimates of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.Home BancShares’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, sell-side analysts predict that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were given a $0.23 dividend. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.92 dividend on an annualized basis and a yield of 3.1%. Home BancShares’s payout ratio is presently 38.02%.

Insiders Place Their Bets

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