Global Retirement Partners LLC Makes New $482,000 Investment in Home BancShares, Inc. $HOMB

Global Retirement Partners LLC purchased a new position in Home BancShares, Inc. (NYSE:HOMB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,882 shares of the financial services provider’s stock, valued at approximately $482,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HOMB. Millennium Capital Advisors LLC bought a new stake in Home BancShares during the fourth quarter valued at about $1,450,000. Vanguard Group Inc. grew its position 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 worth $567,372,000 after purchasing an additional 621,751 shares in the last quarter. Norges Bank purchased a new stake in shares of Home BancShares during the fourth quarter worth about $66,673,000. Bank of America Corp DE raised its stake in Home BancShares by 14.5% during the 1st quarter. Bank of America Corp DE now owns 886,006 shares of the financial services provider’s stock valued at $23,860,000 after purchasing an additional 111,888 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Home BancShares by 4.5% in the 4th quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider’s stock worth $155,242,000 after purchasing an additional 238,548 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on HOMB shares. Piper Sandler reissued an “overweight” rating and issued a $36.00 target price (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Benchmark assumed coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating for the company. Wall Street Zen upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a report on Sunday. Keefe, Bruyette & Woods boosted their price target 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. Finally, Citigroup restated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Home BancShares Trading Down 1.8%

HOMB stock opened at $30.41 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $6.08 billion, a PE ratio of 12.56 and a beta of 0.69. The firm’s 50-day moving average is $29.71 and its 200 day moving average is $28.22. Home BancShares, Inc. has a 12 month low of $25.50 and a 12 month high of $31.70.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $288.70 million. During the same period in the prior year, the business earned $0.58 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts anticipate that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.23 dividend. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares’s dividend payout ratio is presently 38.02%.

Insider Transactions at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.39% of the stock is owned by corporate insiders.

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.