US Bancorp DE Decreases Position in Home BancShares, Inc. (NYSE:HOMB)

US Bancorp DE cut its stake in shares of Home BancShares, Inc. (NYSE:HOMB) by 46.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,842 shares of the financial services provider’s stock after selling 6,724 shares during the period. US Bancorp DE’s holdings in Home BancShares were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HOMB. Point72 Asset Management L.P. raised its position in Home BancShares by 1,545.1% during 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 purchasing an additional 369,271 shares during the period. Raymond James Financial Inc. purchased a new stake in Home BancShares during the fourth quarter valued at approximately $5,656,000. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 124,891 shares during the period. Invesco Ltd. raised its position in Home BancShares by 36.2% during the fourth quarter. Invesco Ltd. now owns 426,359 shares of the financial services provider’s stock valued at $12,066,000 after purchasing an additional 113,371 shares during the period. Finally, Barclays PLC raised its position 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. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 53,308 shares of the company’s stock, valued at $1,467,036.16. This 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 the SEC website. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Home BancShares Stock Up 0.2%

Shares of NYSE:HOMB opened at $28.87 on Friday. Home BancShares, Inc. has a 52-week low of $24.22 and a 52-week high of $32.90. The stock has a market cap of $5.69 billion, a P/E ratio of 13.18 and a beta of 0.78. The business’s 50 day moving average is $28.62 and its 200 day moving average is $28.51. 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 (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%. The company had revenue of $271.03 million for the quarter, compared to analysts’ expectations of $262.56 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Home BancShares’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.80 annualized dividend and a yield of 2.8%. Home BancShares’s dividend payout ratio is 36.53%.

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.