Home Bancshares (NASDAQ:HOMB) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research cut shares of Home Bancshares (NASDAQ:HOMB) from a hold rating to a sell rating in a report published on Tuesday morning, Zacks.com reports.

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. “

HOMB has been the subject of several other reports. BidaskClub lowered shares of Home Bancshares from a buy rating to a hold rating in a research report on Saturday, August 3rd. TheStreet raised shares of Home Bancshares from a c+ rating to a b- rating in a research report on Friday, July 26th. ValuEngine raised shares of Home Bancshares from a strong sell rating to a sell rating in a research report on Friday, April 19th. Piper Jaffray Companies set a $22.00 price target on shares of Home Bancshares and gave the company a buy rating in a research report on Friday, July 19th. Finally, Stephens set a $22.00 price target on shares of Home Bancshares and gave the company a buy rating in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $23.40.

HOMB stock opened at $17.46 on Tuesday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 9.98 and a beta of 1.16. The firm has a 50-day simple moving average of $19.10 and a two-hundred day simple moving average of $18.82. Home Bancshares has a one year low of $15.35 and a one year high of $24.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.00.

Home Bancshares (NASDAQ:HOMB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $164.05 million during the quarter, compared to analyst estimates of $166.83 million. Home Bancshares had a net margin of 36.19% and a return on equity of 12.64%. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities analysts predict that Home Bancshares will post 1.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.52 annualized dividend and a yield of 2.98%. Home Bancshares’s dividend payout ratio (DPR) is presently 29.71%.

In related news, Director Jim Rankin sold 30,219 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $19.50, for a total value of $589,270.50. Following the transaction, the director now owns 198,787 shares in the company, valued at approximately $3,876,346.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Russell Davis Carter III sold 3,333 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $18.20, for a total transaction of $60,660.60. Following the completion of the transaction, the insider now owns 16,259 shares in the company, valued at approximately $295,913.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,552 shares of company stock worth $843,131. 8.70% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Horan Capital Advisors LLC. acquired a new position in Home Bancshares in the 1st quarter worth approximately $26,000. AlphaOne Investment Services LLC acquired a new position in Home Bancshares in the 1st quarter worth approximately $41,000. Advisory Alpha LLC acquired a new stake in shares of Home Bancshares during the 1st quarter worth approximately $46,000. Royce & Associates LP acquired a new stake in shares of Home Bancshares during the 1st quarter worth approximately $49,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Home Bancshares by 12,851.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,346 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 6,297 shares during the period. Institutional investors own 65.77% 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, demand, and money market accounts, as well as certificates of deposit.

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