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

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

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

Shares of NYSE:HOMB opened at $24.00 on Friday. Home Bancshares, Inc. has a 52 week low of $19.61 and a 52 week high of $25.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.89 and a current ratio of 0.90. The company’s fifty day moving average is $23.56 and its 200-day moving average is $23.14. The company has a market capitalization of $4.83 billion, a PE ratio of 12.37 and a beta of 1.11.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Wednesday, February 14th were issued a $0.18 dividend. 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 dividend payout ratio (DPR) is presently 37.11%.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new position in Home Bancshares, Inc. (Conway, AR) during the 4th quarter valued at about $63,000. Money Concepts Capital Corp acquired a new position in Home Bancshares, Inc. (Conway, AR) during the 4th quarter valued at about $72,000. KBC Group NV acquired a new position in Home Bancshares, Inc. (Conway, AR) during the 4th quarter valued at about $72,000. Point72 Middle East FZE acquired a new position in Home Bancshares, Inc. (Conway, AR) during the 4th quarter valued at about $136,000. Finally, FMR LLC increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 18.7% in the 2nd quarter. FMR LLC now owns 6,667 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 1,051 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOMB has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Tuesday, April 9th. Finally, Stephens boosted their target price on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

About Home Bancshares, Inc. (Conway, AR)

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.