Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Posts Earnings Results, Beats Estimates By $0.03 EPS

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) posted its quarterly earnings data on Thursday. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03, Briefing.com reports. The firm had revenue of $246.40 million during the quarter, compared to analysts’ expectations of $240.46 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 28.17% and a return on equity of 10.52%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS.

Home Bancshares, Inc. (Conway, AR) Trading Up 3.4 %

Shares of Home Bancshares, Inc. (Conway, AR) stock opened at $24.00 on Friday. Home Bancshares, Inc. has a 1 year low of $19.61 and a 1 year high of $25.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market capitalization of $4.83 billion, a P/E ratio of 12.37 and a beta of 1.11. The company’s fifty day moving average is $23.56 and its two-hundred day moving average is $23.14.

Home Bancshares, Inc. (Conway, AR) Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, February 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is currently 37.11%.

Insiders Place Their Bets

In other Home Bancshares, Inc. (Conway, AR) news, CEO John W. Allison acquired 20,000 shares of the stock in a transaction on Monday, February 5th. The shares were bought at an average cost of $22.74 per share, with a total value of $454,800.00. Following the transaction, the chief executive officer now owns 5,509,982 shares of the company’s stock, valued at approximately $125,296,990.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Donna Townsell sold 22,729 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $23.76, for a total value of $540,041.04. Following the sale, the director now owns 215,854 shares of the company’s stock, valued at $5,128,691.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Allison bought 20,000 shares of the stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of $22.74 per share, for a total transaction of $454,800.00. Following the acquisition, the chief executive officer now owns 5,509,982 shares of the company’s stock, valued at $125,296,990.68. The disclosure for this purchase can be found here. 7.66% of the stock is currently owned by insiders.

Institutional Trading of Home Bancshares, Inc. (Conway, AR)

Several hedge funds and other institutional investors have recently made changes to their positions in HOMB. Norges Bank purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the fourth quarter valued at about $34,256,000. State Street Corp lifted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 15.3% in the second quarter. State Street Corp now owns 8,272,790 shares of the financial services provider’s stock valued at $171,826,000 after purchasing an additional 1,100,758 shares during the period. Vanguard Group Inc. lifted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 1.2% in the third quarter. Vanguard Group Inc. now owns 20,900,440 shares of the financial services provider’s stock valued at $470,469,000 after purchasing an additional 252,844 shares during the period. Barclays PLC lifted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 71.9% in the fourth quarter. Barclays PLC now owns 583,007 shares of the financial services provider’s stock valued at $14,767,000 after purchasing an additional 243,949 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 23.7% in the fourth quarter. Morgan Stanley now owns 1,203,160 shares of the financial services provider’s stock valued at $27,420,000 after purchasing an additional 230,792 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HOMB shares. Stephens increased their target price on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler raised their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Bancshares, Inc. (Conway, AR) currently has an average rating of “Hold” and a consensus target price of $26.00.

Home Bancshares, Inc. (Conway, AR) Company Profile

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.