First Trust Advisors LP Purchases 410,719 Shares of Home BancShares, Inc. $HOMB

First Trust Advisors LP grew its position in shares of Home BancShares, Inc. (NYSE:HOMB) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,471,607 shares of the financial services provider’s stock after buying an additional 410,719 shares during the period. First Trust Advisors LP owned 1.72% of Home BancShares worth $93,490,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Millennium Capital Advisors LLC purchased a new position in Home BancShares in the 4th quarter valued at approximately $1,450,000. Vanguard Group Inc. raised its stake in shares of Home BancShares by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock valued at $567,372,000 after purchasing an additional 621,751 shares during the period. Norges Bank purchased a new stake in Home BancShares during the 4th quarter worth about $66,673,000. SG Americas Securities LLC boosted its stake in Home BancShares by 220.0% in the 4th quarter. SG Americas Securities LLC now owns 69,900 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 48,053 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Home BancShares by 3,233.3% in the 1st quarter. Fifth Third Bancorp now owns 83,898 shares of the financial services provider’s stock worth $2,259,000 after purchasing an additional 81,381 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Stock Performance

Shares of NYSE HOMB opened at $30.98 on Friday. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $31.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $28.13 and its 200 day moving average is $27.91. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 12.80 and a beta of 0.68.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings data 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. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. The firm had revenue of $295.10 million during the quarter, compared to analyst estimates of $288.70 million. During the same period in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that Home BancShares, Inc. will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given 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 (DPR) is currently 34.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HOMB shares. Weiss Ratings raised shares of Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup reaffirmed a “neutral” rating and issued a $32.00 price target (up from $29.00) on shares of Home BancShares in a report on Tuesday. 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. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Home BancShares in a research note on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.67.

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.