Home BancShares (NYSE:HOMB) Posts Earnings Results

Home BancShares (NYSE:HOMB) released its earnings results on Wednesday. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60, FiscalAI reports. Home BancShares had a net margin of 31.20% and a return on equity of 10.94%.

Home BancShares Stock Performance

Shares of HOMB traded up $0.55 during trading hours on Wednesday, hitting $28.61. The stock had a trading volume of 2,120,735 shares, compared to its average volume of 1,271,683. The firm has a market capitalization of $5.62 billion, a PE ratio of 12.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.90 and a quick ratio of 0.90. Home BancShares has a 12 month low of $24.22 and a 12 month high of $31.27. The stock has a fifty day moving average price of $28.02 and a 200 day moving average price of $28.39.

Home BancShares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th were paid a $0.21 dividend. This is an increase from Home BancShares’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, November 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. Home BancShares’s dividend payout ratio (DPR) is 36.21%.

Analyst Upgrades and Downgrades

HOMB has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Home BancShares in a research report on Monday, December 29th. Piper Sandler set a $34.00 price target on Home BancShares and gave the stock an “overweight” rating in a research report on Friday, October 17th. Royal Bank Of Canada set a $31.00 price objective on shares of Home BancShares in a research report on Monday. Finally, Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Home BancShares currently has an average rating of “Moderate Buy” and an average target price of $32.83.

Institutional Investors Weigh In On Home BancShares

Large investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new position in shares of Home BancShares in the third quarter worth about $569,000. Sunbelt Securities Inc. lifted its holdings in Home BancShares by 255.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 38,604 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 27,750 shares in the last quarter. Danske Bank A S bought a new position in Home BancShares in the 3rd quarter worth approximately $57,000. Caxton Associates LLP bought a new position in Home BancShares in the 3rd quarter worth approximately $294,000. Finally, Dark Forest Capital Management LP grew its holdings in Home BancShares by 83.5% during the 3rd quarter. Dark Forest Capital Management LP now owns 150,210 shares of the financial services provider’s stock valued at $4,251,000 after buying an additional 68,350 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.