Home Bancshares (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
Several other brokerages have also recently issued reports on HOMB. BidaskClub upgraded shares of Home Bancshares from a “strong sell” rating to a “sell” rating in a report on Monday. Stephens reaffirmed a “buy” rating and set a $22.00 price objective on shares of Home Bancshares in a research note on Wednesday, December 19th. Piper Jaffray Companies set a $25.00 price target on shares of Home Bancshares and gave the company a “buy” rating in a research note on Monday, November 26th. ValuEngine upgraded Home Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, November 10th. Finally, TheStreet lowered Home Bancshares from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Three research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.50.
HOMB stock opened at $18.12 on Tuesday. Home Bancshares has a one year low of $15.35 and a one year high of $25.38. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $2.95 billion, a PE ratio of 13.42 and a beta of 1.22.
Home Bancshares (NASDAQ:HOMB) last released its earnings results on Thursday, October 18th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $171.76 million for the quarter, compared to the consensus estimate of $171.67 million. Home Bancshares had a net margin of 32.68% and a return on equity of 12.73%. During the same quarter in the previous year, the firm earned $0.10 earnings per share. On average, equities research analysts predict that Home Bancshares will post 1.77 EPS for the current year.
In other news, insider Tracy French bought 2,500 shares of the company’s stock in a transaction on Friday, October 19th. The stock was bought at an average cost of $19.25 per share, with a total value of $48,125.00. Following the transaction, the insider now directly owns 112,601 shares in the company, valued at approximately $2,167,569.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.15% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Home Bancshares during the third quarter valued at $1,705,000. We Are One Seven LLC purchased a new position in shares of Home Bancshares during the third quarter valued at $3,003,000. Putnam Investments LLC acquired a new stake in Home Bancshares during the second quarter valued at $1,764,000. William Blair Investment Management LLC lifted its position in shares of Home Bancshares by 1.2% in the third quarter. William Blair Investment Management LLC now owns 1,868,639 shares of the financial services provider’s stock worth $40,923,000 after buying an additional 22,647 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Home Bancshares by 15.2% during the 3rd quarter. First Trust Advisors LP now owns 285,483 shares of the financial services provider’s stock worth $6,252,000 after purchasing an additional 37,760 shares during the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.
Home Bancshares Company Profile
Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, NOW, and money market accounts, as well as certificates of deposit.
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