First Trust Advisors LP Increases Stock Position in Home BancShares, Inc. $HOMB

First Trust Advisors LP boosted its position in Home BancShares, Inc. (NYSE:HOMB) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,471,607 shares of the financial services provider’s stock after acquiring an additional 410,719 shares during the period. First Trust Advisors LP’s holdings in Home BancShares were worth $93,490,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its holdings 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 valued at $30,000 after purchasing an additional 674 shares during the period. Root Financial Partners LLC lifted its holdings in Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after buying an additional 474 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Home BancShares in the 4th quarter worth approximately $36,000. Covestor Ltd grew its position in shares of Home BancShares by 110.6% in the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after buying an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc increased its position in Home BancShares by 76.7% during 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 period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Price Performance

Shares of NYSE:HOMB opened at $30.98 on Friday. The business has a fifty day moving average price of $28.13 and a 200-day moving average price of $27.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $6.24 billion, a PE ratio of 12.80 and a beta of 0.68. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $31.24.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. Home BancShares’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. As a group, equities analysts expect that Home BancShares, Inc. will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s dividend payout ratio (DPR) is presently 34.71%.

Wall Street Analyst Weigh In

HOMB has been the topic of a number of research reports. Citigroup reaffirmed a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a research note on Tuesday. Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a research report on Saturday. Stephens lifted their price target on Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods upped their price target on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Home BancShares currently has a consensus rating of “Hold” and a consensus price target of $32.67.

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.