Home BancShares (NYSE:HOMB) Announces Quarterly Earnings Results
by Amy Steele · The Cerbat GemHome BancShares (NYSE:HOMB – Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01, FiscalAI reports. Home BancShares had a net margin of 32.18% and a return on equity of 11.16%.
Home BancShares Price Performance
HOMB traded down $0.30 on Wednesday, hitting $27.67. 1,693,839 shares of the stock were exchanged, compared to its average volume of 1,388,578. Home BancShares has a 12 month low of $25.67 and a 12 month high of $30.83. The business has a 50-day moving average of $27.87 and a two-hundred day moving average of $27.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 11.48 and a beta of 0.75.
Home BancShares Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, February 11th. Home BancShares’s payout ratio is presently 34.85%.
Analysts Set New Price Targets
HOMB has been the subject of several recent analyst reports. Cantor Fitzgerald decreased their target price on shares of Home BancShares from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Royal Bank Of Canada set a $31.00 target price on shares of Home BancShares in a research note on Monday, January 12th. Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Piper Sandler restated an “overweight” rating and issued a $35.00 price target (up from $34.00) on shares of Home BancShares in a research report on Friday, January 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Home BancShares in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.40.
Check Out Our Latest Report on HOMB
Insider Activity
In related news, Director John W. Allison II sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the transaction, the director owned 651,995 shares in the company, valued at $18,379,739.05. This trade represents a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna Townsell sold 5,563 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $28.38, for a total transaction of $157,877.94. Following the sale, the director directly owned 218,460 shares of the company’s stock, valued at $6,199,894.80. This represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. 6.39% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Home BancShares
A number of hedge funds have recently made changes to their positions in HOMB. First Trust Advisors LP increased its holdings in Home BancShares by 37.3% in the 4th quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock worth $85,031,000 after acquiring an additional 830,823 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Home BancShares by 82.9% in the third quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock worth $31,716,000 after purchasing an additional 508,127 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Home BancShares in the second quarter worth approximately $12,931,000. Bank of America Corp DE boosted its stake in Home BancShares by 68.9% in the third quarter. Bank of America Corp DE now owns 845,914 shares of the financial services provider’s stock worth $23,939,000 after buying an additional 345,027 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in Home BancShares by 121.1% during the fourth quarter. Voloridge Investment Management LLC now owns 584,970 shares of the financial services provider’s stock valued at $16,250,000 after acquiring an additional 320,433 shares during the last quarter. 67.31% of the stock is currently 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.