Home BancShares (NYSE:HOMB) Stock Pass Above 200-Day Moving Average – Here’s Why

Home BancShares, Inc. (NYSE:HOMB) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.33 and traded as high as $29.96. Home BancShares shares last traded at $29.67, with a volume of 1,158,884 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HOMB. Benchmark initiated coverage on shares of Home BancShares in a report on Wednesday, June 24th. They issued a “hold” rating on the stock. Weiss Ratings raised shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $36.00 target price (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Hovde Group started coverage on shares of Home BancShares in a research report on Tuesday, September 8th. They set an “outperform” rating and a $34.00 price target for the company. Finally, Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Home BancShares Price Performance

The business’s fifty day moving average price is $30.38 and its 200-day moving average price is $28.34. The company has a market capitalization of $5.77 billion, a P/E ratio of 11.92 and a beta of 0.67. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

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

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s payout ratio is 38.02%.

Insiders Place Their Bets

In related news, CEO John Tipton sold 12,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 76,308 shares in the company, valued at $2,410,569.72. The trade was a 13.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Home BancShares

Hedge funds have recently made changes to their positions in the business. Villanova Investment Management Co LLC increased its holdings in shares of Home BancShares by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 114,093 shares of the financial services provider’s stock worth $3,170,000 after buying an additional 468 shares during the period. Root Financial Partners LLC boosted 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 valued at $29,000 after acquiring an additional 474 shares during the period. Covestor Ltd grew its position 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 acquiring an additional 697 shares during the last quarter. State of Michigan Retirement System grew its position in Home BancShares by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 44,030 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 800 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Home BancShares by 0.8% in the 1st quarter. Cetera Investment Advisers now owns 119,974 shares of the financial services provider’s stock worth $3,231,000 after purchasing an additional 1,007 shares during the period. 67.31% of the stock is currently owned by institutional investors.

About Home BancShares

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Its principal subsidiary, Centennial Bank, provides community banking services to individuals, businesses and institutional customers.

Centennial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts, as well as commercial, residential mortgage, real estate, agricultural and consumer loans. The bank also provides treasury management, online and mobile banking, cash management and other financial services designed for business and retail customers.

Home BancShares was founded in 1998 and has grown through a combination of organic expansion and acquisitions.