UBS Asset Management Americas Inc. grew its stake in shares of Home Bancshares Inc (NASDAQ:HOMB) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,553 shares of the financial services provider’s stock after acquiring an additional 3,447 shares during the period. UBS Asset Management Americas Inc. owned about 0.06% of Home Bancshares worth $2,291,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System raised its stake in Home Bancshares by 57.9% in the fourth quarter. Arizona State Retirement System now owns 113,784 shares of the financial services provider’s stock worth $2,645,000 after buying an additional 41,731 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Home Bancshares by 22.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 376,911 shares of the financial services provider’s stock worth $8,763,000 after buying an additional 70,014 shares in the last quarter. First Trust Advisors LP raised its stake in Home Bancshares by 17.2% in the fourth quarter. First Trust Advisors LP now owns 213,617 shares of the financial services provider’s stock worth $4,967,000 after buying an additional 31,381 shares in the last quarter. Retirement Systems of Alabama raised its stake in Home Bancshares by 1.7% in the fourth quarter. Retirement Systems of Alabama now owns 204,407 shares of the financial services provider’s stock worth $4,752,000 after buying an additional 3,459 shares in the last quarter. Finally, Falcon Point Capital LLC bought a new position in Home Bancshares in the fourth quarter worth approximately $5,193,000. 64.94% of the stock is owned by hedge funds and other institutional investors.
Home Bancshares Inc (HOMB) opened at $24.52 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.76. Home Bancshares Inc has a 1-year low of $20.82 and a 1-year high of $28.54. The stock has a market cap of $4,261.21, a price-to-earnings ratio of 26.95 and a beta of 1.15.
Home Bancshares (NASDAQ:HOMB) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Home Bancshares had a net margin of 21.79% and a return on equity of 11.18%. The business had revenue of $164.30 million for the quarter, compared to analyst estimates of $165.40 million. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. sell-side analysts anticipate that Home Bancshares Inc will post 1.75 EPS for the current fiscal year.
Home Bancshares declared that its board has initiated a stock buyback program on Thursday, February 22nd that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.79%. The ex-dividend date was Tuesday, February 13th. Home Bancshares’s dividend payout ratio is currently 48.35%.
In other Home Bancshares news, Director Richard H. Ashley sold 300,000 shares of Home Bancshares stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $25.01, for a total value of $7,503,000.00. Following the transaction, the director now directly owns 145,354 shares of the company’s stock, valued at $3,635,303.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.15% of the stock is currently owned by insiders.
A number of equities analysts recently commented on HOMB shares. Zacks Investment Research raised shares of Home Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. BidaskClub downgraded shares of Home Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 price objective on shares of Home Bancshares in a research note on Friday, December 22nd. Sandler O’Neill set a $26.00 price objective on shares of Home Bancshares and gave the stock a “hold” rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 price objective on shares of Home Bancshares in a research note on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $27.79.
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Home Bancshares Profile
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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