NGAM Advisors L.P. Cuts Stake in Home BancShares, Inc. (NASDAQ:HOMB)
NGAM Advisors L.P. cut its position in Home BancShares, Inc. (NASDAQ:HOMB) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,783 shares of the financial services provider’s stock after selling 3,704 shares during the period. NGAM Advisors L.P.’s holdings in Home BancShares were worth $3,406,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of HOMB. Oregon Public Employees Retirement Fund purchased a new stake in Home BancShares during the second quarter worth approximately $119,000. LS Investment Advisors LLC increased its stake in 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 in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Home BancShares during the first quarter worth approximately $204,000. Stifel Financial Corp increased its stake in 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 in the last quarter. Finally, World Asset Management Inc increased its stake in 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 in the last quarter. 60.51% of the stock is currently owned by institutional investors.
Shares of Home BancShares, Inc. (NASDAQ HOMB) opened at 24.74 on Thursday. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 18.53 and a beta of 1.18. Home BancShares, Inc. has a 12 month low of $19.74 and a 12 month high of $29.69. The stock’s 50 day moving average price is $24.78 and its 200-day moving average price is $25.85.
Home BancShares (NASDAQ:HOMB) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Home BancShares had a return on equity of 13.77% and a net margin of 33.97%. The business had revenue of $131.77 million for the quarter, compared to analyst estimates of $132.18 million. During the same period last year, the company earned $0.31 EPS. On average, equities research analysts predict that Home BancShares, Inc. will post $1.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be given a $0.11 dividend. This is a positive change from Home BancShares’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Monday, August 14th. Home BancShares’s dividend payout ratio (DPR) is currently 26.87%.
A number of analysts have recently commented on HOMB shares. Stephens reissued a “buy” rating on shares of Home BancShares in a research note on Thursday, April 20th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 price objective on shares of Home BancShares in a research note on Friday, July 21st. ValuEngine raised Home BancShares from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Zacks Investment Research raised Home BancShares from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Tuesday, July 25th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $27.00 price objective 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 issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.70.
In related news, Chairman John W. Allison purchased 15,000 shares of Home BancShares stock in a transaction dated Wednesday, July 26th. The shares were acquired at an average cost of $25.46 per share, for a total transaction of $381,900.00. Following the transaction, the chairman now directly owns 4,968,396 shares of the company’s stock, valued at $126,495,362.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tracy French purchased 2,300 shares of Home BancShares stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $23.79 per share, for a total transaction of $54,717.00. The disclosure for this purchase can be found here. Insiders bought a total of 32,300 shares of company stock worth $806,817 over the last 90 days. 11.27% of the stock is owned by corporate insiders.
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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