Home BancShares (NYSE:HOMB) Posts Earnings Results, Beats Estimates By $0.01 EPS

Home BancShares (NYSE:HOMB) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01, FiscalAI reports. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.

Home BancShares Stock Down 0.2%

Home BancShares stock traded down $0.06 during mid-day trading on Wednesday, reaching $28.30. The stock had a trading volume of 1,954,194 shares, compared to its average volume of 1,567,247. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. Home BancShares has a fifty-two week low of $25.50 and a fifty-two week high of $31.70. The stock’s 50-day simple moving average is $29.71 and its 200-day simple moving average is $28.55. The firm has a market capitalization of $5.66 billion, a PE ratio of 11.70 and a beta of 0.72.

Home BancShares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were issued a $0.23 dividend. The ex-dividend date was Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.3%. Home BancShares’s dividend payout ratio is currently 38.02%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HOMB shares. Stephens lifted their target price on Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Benchmark assumed coverage on Home BancShares in a report on Wednesday, June 24th. They set a “hold” rating on the stock. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Home BancShares presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Insider Activity at Home BancShares

In other news, CEO John Tipton sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the transaction, the chief executive officer directly owned 76,308 shares of the company’s stock, valued at $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.39% of the stock is currently owned by corporate insiders.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.