Insider Selling: Home BancShares (NYSE:HOMB) Director Sells $140,950.00 in Stock

Home BancShares, Inc. (NYSE:HOMB) Director John Allison II sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the sale, the director directly owned 651,995 shares of the company’s stock, valued at $18,379,739.05. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Home BancShares Trading Up 0.9%

NYSE HOMB opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.91 and a quick ratio of 0.90. The stock has a market capitalization of $5.68 billion, a P/E ratio of 11.99 and a beta of 0.80. The firm’s 50-day moving average is $28.84 and its two-hundred day moving average is $28.46. Home BancShares, Inc. has a 12 month low of $24.22 and a 12 month high of $30.83.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Home BancShares had a net margin of 32.18% and a return on equity of 11.16%. The business had revenue of $282.09 million during the quarter, compared to analysts’ expectations of $272.48 million. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.84 dividend on an annualized basis and a yield of 2.9%. Home BancShares’s payout ratio is presently 34.85%.

Hedge Funds Weigh In On Home BancShares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC increased its stake in shares of Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after buying an additional 674 shares during the period. Kestra Advisory Services LLC purchased a new position in Home BancShares in the fourth quarter worth approximately $36,000. Covestor Ltd grew its holdings in Home BancShares by 110.6% during the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 697 shares in the last quarter. Binnacle Investments Inc increased its position in shares of Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 577 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in shares of Home BancShares in the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Analyst Ratings Changes

HOMB has been the subject of a number of research reports. Zacks Research raised Home BancShares from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Home BancShares in a report on Monday, December 29th. Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Piper Sandler reissued an “overweight” rating and set a $35.00 price target (up from $34.00) on shares of Home BancShares in a research report on Friday, January 16th. Finally, Royal Bank Of Canada set a $31.00 price objective on shares of Home BancShares in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.60.

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.