51,890 Shares in Home BancShares, Inc. $HOMB Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in Home BancShares, Inc. (NYSE:HOMB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 51,890 shares of the financial services provider’s stock, valued at approximately $1,397,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Root Financial Partners LLC increased its stake in shares of Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after buying an additional 474 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 674 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Home BancShares in the fourth quarter valued at $36,000. Covestor Ltd lifted 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 period. Finally, Binnacle Investments Inc raised its position 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 buying an additional 577 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on HOMB shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Home BancShares in a report on Thursday, July 16th. Piper Sandler reissued an “overweight” rating and issued a $36.00 price target (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Keefe, Bruyette & Woods lifted their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Stephens upped their price objective on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.67.

Home BancShares Stock Performance

Shares of HOMB stock opened at $31.25 on Tuesday. The company has a market cap of $6.30 billion, a P/E ratio of 12.92 and a beta of 0.68. The business has a 50 day moving average of $28.71 and a two-hundred day moving average of $28.03. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $31.70. 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 (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. The firm had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $288.70 million. During the same period in the previous year, the business earned $0.58 earnings per share. Home BancShares’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, analysts anticipate that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. Home BancShares’s dividend payout ratio (DPR) is currently 38.02%.

About Home BancShares

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.