Home Bancshares (NASDAQ:HOMB) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Home Bancshares (NASDAQ:HOMB) from a hold rating to a sell rating in a report issued on Monday, 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. “

A number of other equities analysts have also commented on HOMB. BidaskClub lowered Home Bancshares from a buy rating to a hold rating in a research note on Friday, December 27th. Stephens set a $22.00 price target on Home Bancshares and gave the company a buy rating in a research note on Friday, October 18th. Finally, Citigroup lowered Home Bancshares from a buy rating to a neutral rating in a research note on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Home Bancshares currently has a consensus rating of Hold and an average price target of $21.50.

Shares of Home Bancshares stock opened at $19.29 on Monday. The stock has a 50 day moving average of $19.32 and a 200 day moving average of $18.84. Home Bancshares has a 12 month low of $16.38 and a 12 month high of $20.37. The firm has a market cap of $3.20 billion, a PE ratio of 11.02 and a beta of 1.21. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Home Bancshares (NASDAQ:HOMB) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Home Bancshares had a return on equity of 12.22% and a net margin of 35.22%. The company had revenue of $167.47 million during the quarter, compared to analyst estimates of $167.40 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Home Bancshares will post 1.71 earnings per share for the current fiscal year.

In other news, Director Alex R. Lieblong sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $18.85, for a total value of $452,400.00. Following the completion of the sale, the director now directly owns 587,388 shares of the company’s stock, valued at approximately $11,072,263.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alex R. Lieblong sold 15,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $18.84, for a total value of $292,020.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,000 shares of company stock valued at $2,435,855. 8.70% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Private Capital Group LLC bought a new stake in shares of Home Bancshares in the 2nd quarter valued at approximately $26,000. Horan Capital Advisors LLC. bought a new stake in shares of Home Bancshares in the 3rd quarter valued at approximately $27,000. Tower Research Capital LLC TRC lifted its stake in shares of Home Bancshares by 12,851.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,346 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 6,297 shares during the last quarter. Cresset Asset Management LLC lifted its stake in shares of Home Bancshares by 274.7% in the 2nd quarter. Cresset Asset Management LLC now owns 10,387 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 7,615 shares during the last quarter. Finally, Atria Investments LLC bought a new stake in shares of Home Bancshares in the 2nd quarter valued at approximately $181,000. 66.71% of the stock is owned by institutional investors and hedge funds.

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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