Home BancShares, Inc. $HOMB Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its position in Home BancShares, Inc. (NYSE:HOMB) by 35.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,000 shares of the financial services provider’s stock after selling 10,503 shares during the period. Baird Financial Group Inc.’s holdings in Home BancShares were worth $537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Magnetar Financial LLC acquired a new position in shares of Home BancShares in the 1st quarter valued at about $471,000. Trexquant Investment LP acquired a new stake in shares of Home BancShares in the first quarter worth $2,638,000. Eisler Capital Management Ltd. acquired a new stake in shares of Home BancShares in the first quarter worth $374,000. T. Rowe Price Investment Management Inc. increased its position in shares of Home BancShares by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,404,440 shares of the financial services provider’s stock worth $237,594,000 after acquiring an additional 196,563 shares in the last quarter. Finally, EntryPoint Capital LLC increased its position in shares of Home BancShares by 45.1% in the first quarter. EntryPoint Capital LLC now owns 10,826 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 3,366 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HOMB. Keefe, Bruyette & Woods increased their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, July 21st. Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Cantor Fitzgerald began coverage on shares of Home BancShares in a research report on Wednesday. They issued a “neutral” rating and a $32.00 price objective for the company. Finally, Piper Sandler increased their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.00.

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $27.52, for a total transaction of $664,855.68. Following the sale, the chief executive officer directly owned 53,308 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Allison sold 110,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the sale, the chief executive officer directly owned 5,540,776 shares in the company, valued at $166,334,095.52. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

Home BancShares Trading Up 0.8%

NYSE HOMB opened at $29.47 on Thursday. Home BancShares, Inc. has a 12 month low of $24.22 and a 12 month high of $32.90. 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 company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 13.45 and a beta of 0.81. The company’s fifty day moving average price is $29.06 and its two-hundred day moving average price is $28.38.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, meeting 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 period in the prior year, the firm posted $0.52 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Home BancShares’s dividend payout ratio is 36.53%.

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.