Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Gap Up After Strong Earnings

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $22.43, but opened at $23.52. Home Bancshares, Inc. (Conway, AR) shares last traded at $22.93, with a volume of 91,466 shares changing hands.

The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $246.40 million during the quarter, compared to the consensus estimate of $240.46 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 29.21% and a return on equity of 10.91%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share.

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Wednesday, February 14th were given a $0.18 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.00%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is presently 36.92%.

Analysts Set New Price Targets

HOMB has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Tuesday, April 9th. Piper Sandler boosted their price target on shares of Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Finally, Stephens boosted their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.00.

Insider Activity

In other Home Bancshares, Inc. (Conway, AR) news, CEO John W. Allison bought 20,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of $22.74 per share, with a total value of $454,800.00. Following the completion of the acquisition, the chief executive officer now owns 5,509,982 shares of the company’s stock, valued at $125,296,990.68. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Donna Townsell sold 22,729 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $23.76, for a total transaction of $540,041.04. Following the transaction, the director now directly owns 215,854 shares in the company, valued at $5,128,691.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Allison purchased 20,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were purchased at an average price of $22.74 per share, for a total transaction of $454,800.00. Following the completion of the purchase, the chief executive officer now owns 5,509,982 shares of the company’s stock, valued at $125,296,990.68. The disclosure for this purchase can be found here. Corporate insiders own 7.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 189.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,034 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 677 shares during the period. Headlands Technologies LLC acquired a new position in shares of Home Bancshares, Inc. (Conway, AR) during the fourth quarter worth about $35,000. Geneos Wealth Management Inc. acquired a new position in shares of Home Bancshares, Inc. (Conway, AR) during the third quarter worth about $31,000. TFO Wealth Partners LLC increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 14,809.1% during the fourth quarter. TFO Wealth Partners LLC now owns 1,640 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 1,629 shares during the period. Finally, Ronald Blue Trust Inc. increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 84.4% during the third quarter. Ronald Blue Trust Inc. now owns 1,684 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 771 shares during the period. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home Bancshares, Inc. (Conway, AR) Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day moving average price is $23.56 and its 200-day moving average price is $23.11. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 12.31 and a beta of 1.11.

Home Bancshares, Inc. (Conway, AR) Company Profile

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.