Zacks Investment Research Downgrades Home BancShares Inc. (HOMB) to Hold
Home BancShares Inc. (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
Separately, Sandler O’Neill cut Home BancShares from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Tuesday, September 13th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.78.
Shares of Home BancShares (NASDAQ:HOMB) opened at 22.55 on Tuesday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 19.96 and a beta of 0.99. The company’s 50-day moving average price is $22.26 and its 200 day moving average price is $21.15. Home BancShares has a 12-month low of $16.93 and a 12-month high of $23.75.
Home BancShares (NASDAQ:HOMB) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. Home BancShares had a return on equity of 13.43% and a net margin of 32.13%. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, equities analysts predict that Home BancShares will post $1.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 10th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, August 8th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.60%. Home BancShares’s payout ratio is currently 31.72%.
In other news, insider Tracy French sold 96,000 shares of Home BancShares stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $23.38, for a total value of $2,244,480.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alex R. Lieblong sold 25,000 shares of Home BancShares stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $23.01, for a total value of $575,250.00. Following the completion of the sale, the director now directly owns 805,004 shares in the company, valued at $18,523,142.04. The disclosure for this sale can be found here. 15.02% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of HOMB. Delta Asset Management LLC TN raised its stake in shares of Home BancShares by 100.0% in the second quarter. Delta Asset Management LLC TN now owns 6,244 shares of the financial services provider’s stock worth $124,000 after buying an additional 3,122 shares in the last quarter. Bank of Montreal Can bought a new position in Home BancShares during the second quarter worth $133,000. BlackRock Inc. raised its position in Home BancShares by 130.7% in the first quarter. BlackRock Inc. now owns 3,745 shares of the financial services provider’s stock worth $153,000 after buying an additional 2,122 shares during the period. Bessemer Group Inc. raised its position in Home BancShares by 100.0% in the second quarter. Bessemer Group Inc. now owns 7,986 shares of the financial services provider’s stock worth $158,000 after buying an additional 3,993 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Home BancShares by 2.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,268 shares of the financial services provider’s stock worth $174,000 after buying an additional 113 shares during the period. 58.73% of the stock is currently owned by hedge funds and other institutional investors.
About Home BancShares
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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