Envestnet Asset Management Inc. Sells 41,743 Shares of Home BancShares, Inc. (NYSE:HOMB)

Envestnet Asset Management Inc. cut its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 8.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 436,769 shares of the financial services provider’s stock after selling 41,743 shares during the period. Envestnet Asset Management Inc. owned 0.22% of Home BancShares worth $12,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Home BancShares during the fourth quarter worth about $60,169,000. Point72 Asset Management L.P. increased its holdings in Home BancShares by 1,545.1% in the fourth quarter. Point72 Asset Management L.P. now owns 393,171 shares of the financial services provider’s stock valued at $11,127,000 after buying an additional 369,271 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Home BancShares by 24.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,285,348 shares of the financial services provider’s stock valued at $36,375,000 after buying an additional 250,703 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Home BancShares in the fourth quarter valued at $5,656,000. Finally, Dimensional Fund Advisors LP increased its holdings in Home BancShares by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,791,837 shares of the financial services provider’s stock valued at $192,211,000 after buying an additional 124,891 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

Insider Transactions at Home BancShares

In other news, insider Kevin Hester sold 7,128 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $28.67, for a total value of $204,359.76. Following the completion of the sale, the insider directly owned 124,912 shares of the company’s stock, valued at $3,581,227.04. This represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jennifer C. Floyd sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.45, for a total value of $68,625.00. Following the completion of the sale, the chief accounting officer directly owned 4,301 shares of the company’s stock, valued at approximately $118,062.45. This trade represents a 36.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,787 shares of company stock worth $937,840. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday. Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th. Stephens reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Home BancShares in a research note on Monday, April 21st. Finally, Royal Bank Of Canada dropped their price objective on shares of Home BancShares from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Home BancShares has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Home BancShares Stock Performance

Shares of HOMB opened at $30.18 on Friday. The firm has a 50-day moving average price of $28.69 and a 200 day moving average price of $28.57. The firm has a market capitalization of $5.96 billion, a PE ratio of 13.78 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24. Home BancShares, Inc. has a 52-week low of $24.22 and a 52-week high of $32.91.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The company had revenue of $271.03 million during the quarter, compared to the consensus estimate of $262.56 million. During the same period in the prior year, the company earned $0.52 EPS. Home BancShares’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a $0.20 dividend. This is an increase from Home BancShares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. Home BancShares’s dividend payout ratio (DPR) is presently 36.53%.

Home BancShares 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.