Charles Schwab Investment Management Inc. Has $63.39 Million Position in Home BancShares, Inc. (NYSE:HOMB)

Charles Schwab Investment Management Inc. lifted its stake in shares of Home BancShares, Inc. (NYSE:HOMB) by 3.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,242,307 shares of the financial services provider’s stock after acquiring an additional 75,463 shares during the period. Charles Schwab Investment Management Inc. owned 1.13% of Home BancShares worth $63,390,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HOMB. Wealth Enhancement Advisory Services LLC grew its stake in shares of Home BancShares by 12.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,451 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 2,096 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Home BancShares by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 428,649 shares of the financial services provider’s stock worth $12,118,000 after acquiring an additional 4,019 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Home BancShares by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 995 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Home BancShares by 48.0% in the 1st quarter. Cerity Partners LLC now owns 18,804 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 6,102 shares in the last quarter. Finally, Vest Financial LLC bought a new stake in shares of Home BancShares in the 1st quarter worth $1,691,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Home BancShares Price Performance

HOMB opened at $28.87 on Friday. The firm has a market cap of $5.69 billion, a P/E ratio of 13.18 and a beta of 0.78. The firm has a 50-day moving average of $28.62 and a 200 day moving average of $28.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $32.90.

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

Home BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, August 13th. Home BancShares’s dividend payout ratio (DPR) is currently 36.53%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $27.52, for a total transaction of $664,855.68. Following the completion of the transaction, the chief executive officer owned 53,308 shares in the company, valued at $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is owned by corporate insiders.

Home BancShares 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.