Insider Selling: Home BancShares (NYSE:HOMB) CEO Sells 110,000 Shares of Stock

Home BancShares, Inc. (NYSE:HOMB) CEO John Allison sold 110,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total value of $3,302,200.00. Following the completion of the transaction, the chief executive officer directly owned 5,540,776 shares of the company’s stock, valued at $166,334,095.52. This represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Home BancShares Price Performance

Home BancShares stock opened at $30.13 on Thursday. The stock’s 50 day moving average is $28.82 and its 200 day moving average is $28.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $5.94 billion, a P/E ratio of 13.76 and a beta of 0.78. Home BancShares, Inc. has a one year low of $24.22 and a one year high of $32.90.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The company had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, research analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Home BancShares’s payout ratio is currently 36.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Cim Investment Management Inc. raised its stake in Home BancShares by 100.8% during the 2nd quarter. Cim Investment Management Inc. now owns 17,640 shares of the financial services provider’s stock worth $501,000 after buying an additional 8,853 shares during the period. Geneos Wealth Management Inc. raised its stake in Home BancShares by 34.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,116 shares of the financial services provider’s stock worth $146,000 after buying an additional 1,299 shares during the period. Tower Research Capital LLC TRC raised its stake in Home BancShares by 148.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 35,266 shares of the financial services provider’s stock worth $1,004,000 after buying an additional 21,062 shares during the period. Binnacle Investments Inc raised its holdings in Home BancShares by 76.7% during the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after buying an additional 577 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in Home BancShares during the second quarter worth $255,000. 67.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Home BancShares from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods raised their target price on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. Finally, Wall Street Zen cut Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.20.

About Home BancShares

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.