Hsbc Holdings PLC Acquires New Holdings in Home BancShares, Inc. $HOMB

Hsbc Holdings PLC acquired a new stake in shares of Home BancShares, Inc. (NYSE:HOMB) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,042 shares of the financial services provider’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Home BancShares during the first quarter valued at approximately $64,000. GAMMA Investing LLC grew its holdings in Home BancShares by 60.8% during 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 last quarter. UMB Bank n.a. grew its holdings in Home BancShares by 32.4% during the first quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 647 shares during the last quarter. Fifth Third Bancorp grew its holdings in Home BancShares by 60.5% during the first quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in Home BancShares during the first quarter valued at approximately $203,000. Institutional investors own 67.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HOMB has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, July 21st. Piper Sandler increased their price target on Home BancShares from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.20.

Insider Buying and Selling at Home BancShares

In other news, CEO John W. Allison sold 110,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total value of $3,302,200.00. Following the sale, the chief executive officer owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. The trade was a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $27.52, for a total value of $664,855.68. Following the completion of the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

Home BancShares Trading Down 0.9%

Shares of HOMB stock opened at $29.82 on Friday. Home BancShares, Inc. has a 1 year low of $24.22 and a 1 year high of $32.90. The firm’s fifty day simple moving average is $29.04 and its 200 day simple moving average is $28.39. The firm has a market capitalization of $5.88 billion, a P/E ratio of 13.62 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

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 analysts’ consensus estimates of $0.58. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. 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 previous year, the company earned $0.52 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Home BancShares’s 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.