Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 31.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 431,166 shares of the financial services provider’s stock after selling 193,836 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Home Bancshares, Inc. (Conway, AR) worth $11,680,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 186.2% in the third quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider’s stock worth $33,000 after buying an additional 795 shares in the last quarter. GAMMA Investing LLC raised its position in Home Bancshares, Inc. (Conway, AR) by 49.7% in the third quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 427 shares during the period. Blue Trust Inc. lifted its position in Home Bancshares, Inc. (Conway, AR) by 41.6% in the third quarter. Blue Trust Inc. now owns 1,797 shares of the financial services provider’s stock valued at $49,000 after buying an additional 528 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Home Bancshares, Inc. (Conway, AR) in the 3rd quarter worth approximately $76,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Home Bancshares, Inc. (Conway, AR) during the second quarter worth $75,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Jennifer C. Floyd sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.18, for a total value of $60,360.00. Following the transaction, the chief accounting officer now directly owns 3,468 shares in the company, valued at $104,664.24. This trade represents a 36.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack Engelkes sold 25,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.12, for a total transaction of $753,000.00. Following the transaction, the director now directly owns 199,195 shares in the company, valued at approximately $5,999,753.40. This trade represents a 11.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,997 shares of company stock valued at $2,782,548 in the last ninety days. Insiders own 7.66% of the company’s stock.

Analyst Upgrades and Downgrades

HOMB has been the subject of several recent research reports. StockNews.com raised shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Piper Sandler boosted their target price on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated a “sector perform” rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Finally, Stephens boosted their price target on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.50.

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

Home Bancshares, Inc. (Conway, AR) stock opened at $28.41 on Monday. The business has a fifty day moving average of $29.60 and a two-hundred day moving average of $27.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $5.65 billion, a P/E ratio of 14.64 and a beta of 1.08. Home Bancshares, Inc. has a one year low of $22.38 and a one year high of $32.90.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The firm had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $258.90 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that Home Bancshares, Inc. will post 2.04 earnings per share for the current fiscal year.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were given a $0.195 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.78 annualized dividend and a dividend yield of 2.75%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is currently 40.21%.

About Home Bancshares, Inc. (Conway, AR)

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.