Home BancShares (NYSE:HOMB) Posts Earnings Results, Beats Estimates By $0.02 EPS

Home BancShares (NYSE:HOMB) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02, FiscalAI reports. Home BancShares had a return on equity of 11.11% and a net margin of 32.48%.

Home BancShares Trading Up 1.0%

NYSE HOMB traded up $0.28 during trading hours on Wednesday, hitting $29.28. 2,306,610 shares of the company’s stock were exchanged, compared to its average volume of 1,572,132. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $5.90 billion, a P/E ratio of 12.05 and a beta of 0.68. The business’s 50 day moving average is $27.47 and its 200-day moving average is $27.77. Home BancShares has a 12-month low of $25.50 and a 12-month high of $30.83.

Home BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, May 13th. Home BancShares’s dividend payout ratio is presently 34.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HOMB. Weiss Ratings downgraded shares of Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Stephens lowered their price target on Home BancShares from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $30.00 target price (down from $31.00) on shares of Home BancShares in a research report on Tuesday, May 19th. Finally, Piper Sandler set a $33.00 price target on Home BancShares and gave the stock an “overweight” rating in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.20.

Insider Activity at Home BancShares

In related news, CEO John W. Allison purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was purchased at an average price of $26.96 per share, with a total value of $2,696,000.00. Following the completion of the transaction, the chief executive officer owned 5,798,926 shares of the company’s stock, valued at approximately $156,339,044.96. This trade represents a 1.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer C. Floyd sold 3,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total value of $81,330.00. Following the completion of the transaction, the chief accounting officer directly owned 4,635 shares in the company, valued at $125,654.85. This trade represents a 39.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HOMB. CIBC Private Wealth Group LLC lifted its position in Home BancShares by 164.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 674 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Home BancShares in the 4th quarter valued at about $36,000. Binnacle Investments Inc increased its position in shares of Home BancShares by 76.7% during the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 577 shares during the last quarter. Danske Bank A S acquired a new stake in Home BancShares during the 3rd quarter valued at approximately $57,000. Finally, Parkside Financial Bank & Trust grew its stake in Home BancShares by 32.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,238 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 799 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

About Home BancShares

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.