Basswood Capital Management L.L.C. Acquires New Holdings in Home BancShares, Inc. $HOMB

Basswood Capital Management L.L.C. acquired a new stake in shares of Home BancShares, Inc. (NYSE:HOMB) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 166,538 shares of the financial services provider’s stock, valued at approximately $4,755,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HOMB. BlackRock Inc. bought a new stake in shares of Home BancShares during the 2nd quarter worth about $735,643,000. Norges Bank acquired a new stake in shares of Home BancShares in the 4th quarter worth approximately $66,673,000. Bank of New York Mellon Corp bought a new position in shares of Home BancShares in the second quarter valued at approximately $44,068,000. First Trust Advisors LP boosted its holdings in shares of Home BancShares by 37.3% in the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock valued at $85,031,000 after acquiring an additional 830,823 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Home BancShares by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock valued at $567,372,000 after acquiring an additional 621,751 shares during the period. Institutional investors own 67.31% of the company’s stock.

Analysts Set New Price Targets

HOMB has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 target price (up from $30.00) on shares of Home BancShares in a report on Wednesday, August 19th. Citigroup reaffirmed a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Stephens lifted their price target on Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $36.00 price target (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Home BancShares has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Home BancShares Stock Performance

NYSE:HOMB opened at $29.83 on Thursday. Home BancShares, Inc. has a twelve month low of $25.50 and a twelve month high of $31.70. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $29.93 and a 200-day moving average of $28.24. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 12.33 and a beta of 0.69.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The business had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. During the same period in the previous year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts forecast that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.1%. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. Home BancShares’s dividend payout ratio (DPR) is presently 38.02%.

Insider Transactions at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total value of $379,080.00. Following the transaction, the chief executive officer owned 76,308 shares of the company’s stock, valued at approximately $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.39% of the company’s stock.

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.