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

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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.

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

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

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Home Bancshares, Inc. (Conway, AR)

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

Institutional Trading of Home Bancshares, Inc. (Conway, AR)

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Home Bancshares, Inc. (Conway, AR) by 0.7% in the first quarter. BlackRock Inc. now owns 22,957,572 shares of the financial services provider’s stock valued at $498,409,000 after acquiring an additional 154,993 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Home Bancshares, Inc. (Conway, AR) by 1.2% in the third quarter. Vanguard Group Inc. now owns 20,900,440 shares of the financial services provider’s stock valued at $470,469,000 after acquiring an additional 252,844 shares during the last quarter. State Street Corp boosted its holdings in Home Bancshares, Inc. (Conway, AR) by 6.3% in the third quarter. State Street Corp now owns 8,794,022 shares of the financial services provider’s stock valued at $197,953,000 after acquiring an additional 521,232 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Home Bancshares, Inc. (Conway, AR) by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,496,911 shares of the financial services provider’s stock valued at $139,240,000 after acquiring an additional 432,091 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Home Bancshares, Inc. (Conway, AR) by 4.3% in the first quarter. Geode Capital Management LLC now owns 3,626,130 shares of the financial services provider’s stock valued at $78,723,000 after acquiring an additional 150,416 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors.

Home Bancshares, Inc. (Conway, AR) Price Performance

The company has a fifty day moving average of $23.56 and a 200 day moving average of $23.11. The firm has a market capitalization of $4.83 billion, a P/E ratio of 12.31 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.89.

About Home Bancshares, Inc. (Conway, AR)

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.