Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Gap Up After Strong Earnings

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $22.43, but opened at $23.52. Home Bancshares, Inc. (Conway, AR) shares last traded at $22.93, with a volume of 91,466 shares changing hands.

The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $246.40 million for the quarter, compared to the consensus estimate of $240.46 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 29.21% and a return on equity of 10.91%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share.

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.00%. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 36.92%.

Analyst Upgrades and Downgrades

HOMB has been the subject of several research reports. Stephens boosted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler upped their target price on shares of Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Home Bancshares, Inc. (Conway, AR) has a consensus rating of “Hold” and an average price target of $26.00.

Insider Buying and Selling at Home Bancshares, Inc. (Conway, AR)

In other news, CEO John W. Allison acquired 20,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of $22.74 per share, with a total value of $454,800.00. Following the completion of the purchase, the chief executive officer now directly owns 5,509,982 shares in the company, valued at approximately $125,296,990.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO John W. Allison acquired 20,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of $22.74 per share, with a total value of $454,800.00. Following the completion of the purchase, the chief executive officer now directly owns 5,509,982 shares in the company, valued at approximately $125,296,990.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donna Townsell sold 22,729 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $23.76, for a total transaction of $540,041.04. Following the transaction, the director now directly owns 215,854 shares of the company’s stock, valued at $5,128,691.04. The disclosure for this sale can be found here. 7.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Home Bancshares, Inc. (Conway, AR)

Several institutional investors have recently added to or reduced their stakes in HOMB. Quadrant Capital Group LLC grew its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 189.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,034 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 677 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the 4th quarter worth about $35,000. Geneos Wealth Management Inc. purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the 3rd quarter valued at about $31,000. TFO Wealth Partners LLC lifted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 14,809.1% in the 4th quarter. TFO Wealth Partners LLC now owns 1,640 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its position in Home Bancshares, Inc. (Conway, AR) by 84.4% in the third quarter. Ronald Blue Trust Inc. now owns 1,684 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) Stock Up 3.4 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $23.56 and a two-hundred day simple moving average of $23.11. The company has a market capitalization of $4.83 billion, a P/E ratio of 12.31 and a beta of 1.11.

Home Bancshares, Inc. (Conway, AR) 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, and money market accounts, as well as certificates of deposit.