Home BancShares (NYSE:HOMB) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Home BancShares (NYSE:HOMB) from a sell rating to a hold rating in a research note released on Sunday morning.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler restated an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Weiss Ratings upgraded shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Citigroup reissued a “neutral” rating and issued a $32.00 target price (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Benchmark started coverage on Home BancShares in a report on Wednesday, June 24th. They set a “hold” rating on the stock. Finally, Stephens upped 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. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.67.

Home BancShares Stock Up 0.2%

HOMB opened at $31.44 on Friday. The stock has a market cap of $6.29 billion, a PE ratio of 12.99 and a beta of 0.69. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. Home BancShares has a 52 week low of $25.50 and a 52 week high of $31.70. The business’s fifty day simple moving average is $29.50 and its 200 day simple moving average is $28.17.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating 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 return on equity of 11.12% and a net margin of 32.10%.Home BancShares’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. As a group, research analysts expect that Home BancShares will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a dividend of $0.23 per share. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. Home BancShares’s dividend payout ratio is presently 38.02%.

Insider Transactions at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the transaction, the chief executive officer directly owned 76,308 shares in the company, valued at $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.39% of the company’s stock.

Institutional Investors Weigh In On Home BancShares

Institutional investors and hedge funds have recently modified their holdings of the stock. Freestone Grove Partners LP purchased a new position in shares of Home BancShares during the second quarter valued at about $3,106,000. Odyssean LLC bought a new position in Home BancShares during the second quarter valued at approximately $3,004,000. Man Group plc bought a new position in Home BancShares during the second quarter valued at approximately $290,000. Jupiter Topco LLC purchased a new position in Home BancShares during the 2nd quarter valued at approximately $2,329,000. Finally, Hsbc Holdings PLC purchased a new position in Home BancShares during the 2nd quarter valued at approximately $4,628,000. Institutional investors 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.