Home BancShares (NYSE:HOMB) CEO Sells $379,080.00 in Stock

Home BancShares, Inc. (NYSE:HOMB) CEO John Stephen Tipton sold 12,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the transaction, the chief executive officer directly owned 76,308 shares of the company’s stock, valued at $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Home BancShares Price Performance

Shares of HOMB opened at $30.81 on Friday. Home BancShares, Inc. has a twelve month low of $25.50 and a twelve month high of $31.70. The stock’s 50 day moving average is $29.05 and its two-hundred day moving average is $28.10. The firm has a market capitalization of $6.21 billion, a PE ratio of 12.73 and a beta of 0.69. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. Research analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares’s dividend payout ratio is currently 34.71%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HOMB. CIBC Private Wealth Group LLC raised its holdings in shares of Home BancShares by 164.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 674 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 474 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Home BancShares during the fourth quarter valued at $36,000. Covestor Ltd increased its position in Home BancShares by 110.6% during the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 697 shares in the last quarter. Finally, Binnacle Investments Inc increased its position in Home BancShares by 76.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 577 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HOMB shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Home BancShares in a report on Thursday, July 16th. Benchmark initiated coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Weiss Ratings upgraded shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, Citigroup restated a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.67.

About Home BancShares

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.