Home BancShares, Inc. (NYSE:HOMB) Receives $31.20 Consensus Price Target from Analysts

Shares of Home BancShares, Inc. (NYSE:HOMB) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $31.20.

A number of research analysts recently issued reports on HOMB shares. Wall Street Zen cut Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Keefe, Bruyette & Woods cut their price target on Home BancShares from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Weiss Ratings cut Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Stephens cut their price target on Home BancShares from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Finally, Zacks Research cut Home BancShares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th.

Home BancShares Stock Performance

Home BancShares stock opened at $27.14 on Monday. The stock has a 50-day simple moving average of $26.85 and a 200 day simple moving average of $27.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. Home BancShares has a 12-month low of $25.50 and a 12-month high of $30.83. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 11.17 and a beta of 0.68.

Home BancShares (NYSE:HOMB) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. Home BancShares had a return on equity of 11.11% and a net margin of 32.48%.The business had revenue of $266.71 million during the quarter, compared to analysts’ expectations of $274.06 million. During the same period in the previous year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that Home BancShares will post 2.48 earnings per share for the current fiscal year.

Home BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, May 13th. Home BancShares’s payout ratio is currently 34.57%.

Insider Activity

In other news, CEO John W. Allison acquired 100,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was purchased at an average cost of $26.96 per share, with a total value of $2,696,000.00. Following the acquisition, the chief executive officer owned 5,798,926 shares of the company’s stock, valued at $156,339,044.96. This trade represents a 1.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer C. Floyd sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total value of $81,330.00. Following the sale, the chief accounting officer directly owned 4,635 shares of the company’s stock, valued at $125,654.85. This represents a 39.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.39% of the company’s stock.

Institutional Trading of Home BancShares

Several institutional investors and hedge funds have recently added to or reduced their stakes in HOMB. Root Financial Partners LLC raised its holdings in Home BancShares by 76.9% during the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 474 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Home BancShares by 164.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 674 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Home BancShares during the 4th quarter worth about $36,000. Covestor Ltd raised its holdings in Home BancShares by 110.6% during the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc raised its holdings in Home BancShares by 76.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 577 shares during the last quarter. 67.31% of the stock is 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.