Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) announced its quarterly earnings results on Thursday. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03, Briefing.com reports. Home Bancshares, Inc. (Conway, AR) had a net margin of 28.17% and a return on equity of 10.52%. The firm had revenue of $246.40 million for the quarter, compared to the consensus estimate of $240.46 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year.

Home Bancshares, Inc. (Conway, AR) Stock Up 3.4 %

HOMB opened at $24.00 on Friday. The company has a market cap of $4.83 billion, a PE ratio of 12.37 and a beta of 1.11. Home Bancshares, Inc. has a twelve month low of $19.61 and a twelve month high of $25.80. The company has a 50-day moving average price of $23.56 and a 200 day moving average price of $23.14. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.46.

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.00%. The ex-dividend date was Tuesday, February 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 37.11%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HOMB shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Tuesday, April 9th. Stephens upped their price target on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Piper Sandler increased their price target on Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Insider Activity at Home Bancshares, Inc. (Conway, AR)

In other news, CEO John W. Allison acquired 20,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $22.74 per share, for a total transaction of $454,800.00. Following the purchase, the chief executive officer now owns 5,509,982 shares in the company, valued at $125,296,990.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Donna Townsell sold 22,729 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $23.76, for a total value of $540,041.04. Following the completion of the transaction, the director now directly owns 215,854 shares of the company’s stock, valued at approximately $5,128,691.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Allison acquired 20,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was purchased at an average price of $22.74 per share, for a total transaction of $454,800.00. Following the acquisition, the chief executive officer now directly owns 5,509,982 shares in the company, valued at approximately $125,296,990.68. The disclosure for this purchase can be found here. 7.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of large investors have recently modified their holdings of HOMB. Norges Bank acquired a new position in Home Bancshares, Inc. (Conway, AR) during the fourth quarter worth about $34,256,000. State Street Corp lifted its stake in Home Bancshares, Inc. (Conway, AR) by 15.3% in the 2nd quarter. State Street Corp now owns 8,272,790 shares of the financial services provider’s stock worth $171,826,000 after purchasing an additional 1,100,758 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 20,900,440 shares of the financial services provider’s stock worth $470,469,000 after purchasing an additional 252,844 shares during the last quarter. Barclays PLC grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 71.9% in the fourth quarter. Barclays PLC now owns 583,007 shares of the financial services provider’s stock valued at $14,767,000 after purchasing an additional 243,949 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 23.7% in the fourth quarter. Morgan Stanley now owns 1,203,160 shares of the financial services provider’s stock valued at $27,420,000 after purchasing an additional 230,792 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) 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, and money market accounts, as well as certificates of deposit.