Vanguard Group Inc. Decreases Stock Holdings in Home BancShares, Inc. (NYSE:HOMB)

Vanguard Group Inc. trimmed its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,036,217 shares of the financial services provider’s stock after selling 255,763 shares during the quarter. Vanguard Group Inc. owned 10.09% of Home BancShares worth $566,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Home BancShares by 1.9% during 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 acquiring an additional 124,891 shares during the last quarter. Royce & Associates LP grew its holdings in Home BancShares by 0.5% during the first quarter. Royce & Associates LP now owns 1,123,775 shares of the financial services provider’s stock valued at $31,769,000 after purchasing an additional 5,239 shares during the period. Fenimore Asset Management Inc grew its holdings in Home BancShares by 0.5% during the first quarter. Fenimore Asset Management Inc now owns 511,023 shares of the financial services provider’s stock valued at $14,447,000 after purchasing an additional 2,673 shares during the period. Barclays PLC grew its holdings in Home BancShares by 20.7% during the fourth quarter. Barclays PLC now owns 510,546 shares of the financial services provider’s stock valued at $14,449,000 after purchasing an additional 87,594 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Home BancShares by 1.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 478,512 shares of the financial services provider’s stock valued at $13,542,000 after purchasing an additional 7,239 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

Home BancShares Price Performance

Home BancShares stock opened at $28.85 on Thursday. Home BancShares, Inc. has a one year low of $24.22 and a one year high of $32.90. The business has a fifty day moving average price of $28.60 and a 200-day moving average price of $28.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $5.69 billion, a P/E ratio of 13.17 and a beta of 0.78.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%. The firm had revenue of $271.03 million during the quarter, compared to analyst estimates of $262.56 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, August 13th. Home BancShares’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $27.52, for a total value of $664,855.68. Following the sale, the chief executive officer owned 53,308 shares in the company, valued at approximately $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Piper Sandler increased their price objective on Home BancShares from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Stephens reissued an “overweight” rating and set a $33.00 price objective on shares of Home BancShares in a report on Monday, April 21st. Royal Bank Of Canada reduced their price objective on Home BancShares from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods raised their price target on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, July 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.20.

About Home BancShares

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.