252,322 Shares in Home BancShares, Inc. $HOMB Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Home BancShares, Inc. (NYSE:HOMB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 252,322 shares of the financial services provider’s stock, valued at approximately $7,198,000.

Other large investors have also recently bought and sold shares of the company. Root Financial Partners LLC boosted 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 buying an additional 474 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Home BancShares by 164.8% during 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 bought a new stake in shares of Home BancShares during the fourth quarter worth $36,000. Covestor Ltd lifted its stake in shares of Home BancShares by 110.6% during the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 697 shares during the period. Finally, Binnacle Investments Inc lifted its stake in shares of Home BancShares by 76.7% during the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 577 shares during the period. Institutional investors and hedge funds own 67.31% of the company’s stock.

Insider Buying and Selling at Home BancShares

In other news, CEO John Stephen 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 value of $379,080.00. Following the completion of the transaction, the chief executive officer owned 76,308 shares of the company’s stock, valued at $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 available at this hyperlink. 6.39% of the stock is currently owned by corporate insiders.

Home BancShares Stock Performance

Shares of HOMB stock opened at $29.69 on Thursday. The stock has a market cap of $5.94 billion, a PE ratio of 12.27 and a beta of 0.67. The stock has a 50-day moving average of $30.08 and a 200-day moving average of $28.22. 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.

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

Home BancShares Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on HOMB. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings raised shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of Home BancShares in a research note on Wednesday, August 19th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

About Home BancShares

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.