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

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) gapped up prior to trading on Thursday following a stronger than expected earnings report. 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 trading hands.

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

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 paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, February 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is currently 36.92%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HOMB shares. Stephens increased their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler increased their price target on shares of Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, 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 note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.00.

Insider Buying and Selling at Home Bancshares, Inc. (Conway, AR)

In other Home Bancshares, Inc. (Conway, AR) news, CEO John W. Allison bought 20,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was acquired at an average price of $22.74 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Donna Townsell sold 22,729 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $23.76, for a total transaction of $540,041.04. Following the sale, the director now owns 215,854 shares in the company, valued at $5,128,691.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John W. Allison purchased 20,000 shares of the business’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 acquisition, 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. Insiders own 7.66% of the company’s stock.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

Institutional investors have recently made changes to their positions in the company. UBS Group AG grew its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 156.1% during the third quarter. UBS Group AG now owns 182,136 shares of the financial services provider’s stock valued at $3,814,000 after buying an additional 111,027 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 32.2% during the third quarter. Envestnet Asset Management Inc. now owns 456,872 shares of the financial services provider’s stock valued at $9,567,000 after buying an additional 111,393 shares during the last quarter. Prudential PLC purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the third quarter valued at approximately $1,668,000. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the fourth quarter valued at approximately $494,000. Finally, International Assets Investment Management LLC boosted its holdings in Home Bancshares, Inc. (Conway, AR) by 2,433.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,216,752 shares of the financial services provider’s stock worth $30,820,000 after purchasing an additional 1,168,716 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

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

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average is $23.56 and its 200-day moving average is $23.11. The company has a market cap of $4.83 billion, a PE 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.