Home BancShares, Inc. (NASDAQ:HOMB) Shares Bought by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan boosted its position in Home BancShares, Inc. (NASDAQ:HOMB) by 72.8% during the second quarter, Holdings Channel reports. The firm owned 48,720 shares of the financial services provider’s stock after buying an additional 20,530 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Home BancShares were worth $1,213,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund purchased a new position in shares of Home BancShares during the second quarter worth about $119,000. LS Investment Advisors LLC raised its position in shares of Home BancShares by 58.7% in the first quarter. LS Investment Advisors LLC now owns 7,367 shares of the financial services provider’s stock worth $199,000 after buying an additional 2,725 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Home BancShares during the first quarter worth about $204,000. Stifel Financial Corp raised its position in shares of Home BancShares by 6.5% in the first quarter. Stifel Financial Corp now owns 7,930 shares of the financial services provider’s stock worth $213,000 after buying an additional 485 shares during the period. Finally, World Asset Management Inc raised its position in shares of Home BancShares by 3.4% in the first quarter. World Asset Management Inc now owns 8,027 shares of the financial services provider’s stock worth $217,000 after buying an additional 264 shares during the period. Institutional investors own 60.51% of the company’s stock.
Home BancShares, Inc. (NASDAQ HOMB) opened at 25.01 on Wednesday. Home BancShares, Inc. has a 52 week low of $19.74 and a 52 week high of $29.69. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 18.73 and a beta of 1.18. The company has a 50-day moving average price of $24.82 and a 200-day moving average price of $25.88.
Home BancShares (NASDAQ:HOMB) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Home BancShares had a net margin of 33.97% and a return on equity of 13.77%. The business had revenue of $131.77 million during the quarter, compared to the consensus estimate of $132.18 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities research analysts anticipate that Home BancShares, Inc. will post $1.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.11 per share. This is an increase from Home BancShares’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, August 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.76%. Home BancShares’s dividend payout ratio is 26.87%.
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A number of equities analysts recently issued reports on HOMB shares. Stephens restated a “buy” rating on shares of Home BancShares in a research note on Thursday, April 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $30.00 target price on shares of Home BancShares in a research note on Friday, July 21st. ValuEngine upgraded Home BancShares from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Zacks Investment Research upgraded Home BancShares from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, July 25th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $27.00 target price on shares of Home BancShares in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $28.70.
In other Home BancShares news, insider Tracy French bought 2,300 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was acquired at an average price of $23.79 per share, for a total transaction of $54,717.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John W. Allison bought 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were acquired at an average price of $25.46 per share, with a total value of $381,900.00. Following the purchase, the chairman now directly owns 4,968,396 shares of the company’s stock, valued at approximately $126,495,362.16. The disclosure for this purchase can be found here. Insiders have bought 32,300 shares of company stock valued at $806,817 in the last quarter. Insiders own 11.27% of the company’s stock.
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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