State of Michigan Retirement System Sells 1,200 Shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

State of Michigan Retirement System lessened its stake in shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 44,830 shares of the financial services provider’s stock after selling 1,200 shares during the period. State of Michigan Retirement System’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $1,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOMB. Quadrant Capital Group LLC lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 189.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,034 shares of the financial services provider’s stock valued at $26,000 after buying an additional 677 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Home Bancshares, Inc. (Conway, AR) during the first quarter valued at approximately $31,000. Headlands Technologies LLC bought a new position in shares of Home Bancshares, Inc. (Conway, AR) in the fourth quarter worth approximately $35,000. TFO Wealth Partners LLC boosted its position in shares of Home Bancshares, Inc. (Conway, AR) by 14,809.1% in the fourth quarter. TFO Wealth Partners LLC now owns 1,640 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,629 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 325.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,712 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,310 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Piper Sandler upped their price objective on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Stephens reissued an “overweight” rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Home Bancshares, Inc. (Conway, AR) presently has a consensus rating of “Hold” and an average target price of $27.25.

Insider Activity at Home Bancshares, Inc. (Conway, AR)

In other Home Bancshares, Inc. (Conway, AR) news, insider Kevin Hester sold 25,263 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $27.00, for a total transaction of $682,101.00. Following the sale, the insider now directly owns 114,912 shares of the company’s stock, valued at $3,102,624. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Kevin Hester sold 25,263 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $27.00, for a total value of $682,101.00. Following the sale, the insider now owns 114,912 shares of the company’s stock, valued at $3,102,624. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian Davis sold 15,391 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $26.89, for a total transaction of $413,863.99. Following the completion of the sale, the chief financial officer now owns 89,192 shares of the company’s stock, valued at approximately $2,398,372.88. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by insiders.

Home Bancshares, Inc. (Conway, AR) Stock Performance

Shares of NYSE HOMB opened at $27.65 on Friday. The company has a market cap of $5.54 billion, a P/E ratio of 14.25 and a beta of 1.07. The firm’s fifty day moving average is $25.96 and its two-hundred day moving average is $24.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.90 and a current ratio of 0.90. Home Bancshares, Inc. has a 52-week low of $19.61 and a 52-week high of $28.99.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $254.60 million during the quarter, compared to analyst estimates of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 earnings per share. As a group, analysts anticipate that Home Bancshares, Inc. will post 2.05 EPS for the current fiscal year.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.195 per share. This is an increase from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Wednesday, August 14th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is currently 40.21%.

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.