Home BancShares, Inc. (NYSE:HOMB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,813 shares of the financial services provider’s stock after selling 658 shares during the period. PNC Financial Services Group Inc.’s holdings in Home BancShares were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Home BancShares by 12.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,451 shares of the financial services provider’s stock valued at $522,000 after buying an additional 2,096 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Home BancShares by 0.9% in the first quarter. Principal Financial Group Inc. now owns 428,649 shares of the financial services provider’s stock valued at $12,118,000 after purchasing an additional 4,019 shares during the period. GAMMA Investing LLC increased its holdings in shares of Home BancShares by 60.8% in the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 995 shares during the period. Cerity Partners LLC increased its holdings in shares of Home BancShares by 48.0% in the first quarter. Cerity Partners LLC now owns 18,804 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 6,102 shares during the period. Finally, Vest Financial LLC acquired a new position in shares of Home BancShares in the first quarter valued at about $1,691,000. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Home BancShares

In other Home BancShares 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 transaction of $664,855.68. Following the transaction, the chief executive officer owned 53,308 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

HOMB has been the topic of a number of research reports. Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada cut their price objective on Home BancShares from $33.00 to $31.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Stephens reissued an “overweight” rating and issued a $33.00 price objective on shares of Home BancShares in a report on Monday, April 21st. 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. Finally, Keefe, Bruyette & Woods increased their price objective on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.20.

Home BancShares Stock Down 2.0%

Shares of HOMB opened at $28.25 on Friday. Home BancShares, Inc. has a 52 week low of $24.22 and a 52 week high of $32.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 12.90 and a beta of 0.78. The stock’s 50-day moving average price is $28.62 and its 200-day moving average price is $28.49.

Home BancShares (NYSE:HOMB) last issued its 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 for the quarter, compared to the consensus estimate of $262.56 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Home BancShares’s dividend payout ratio is currently 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.