Home BancShares (NYSE:HOMB) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Home BancShares (NYSE:HOMB) in a report released on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating and a $32.00 target price on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Keefe, Bruyette & Woods increased 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 report on Monday, July 21st. Finally, Piper Sandler raised their price target on shares of Home BancShares from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Home BancShares presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Home BancShares Price Performance

Shares of NYSE:HOMB opened at $29.47 on Wednesday. The firm’s 50 day moving average is $29.06 and its two-hundred day moving average is $28.38. Home BancShares has a 52 week low of $24.22 and a 52 week high of $32.90. The firm has a market capitalization of $5.81 billion, a P/E ratio of 13.45 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 announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The company had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. Home BancShares’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. Analysts anticipate that Home BancShares will post 2.19 earnings per share for the current year.

Home BancShares Dividend Announcement

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

Insider Transactions at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 53,308 shares of the company’s stock, valued at $1,467,036.16. The trade was a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John W. Allison sold 110,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $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. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HOMB. T. Rowe Price Investment Management Inc. boosted its holdings 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 valued at $237,594,000 after buying an additional 196,563 shares during the period. American Century Companies Inc. raised its position in Home BancShares by 14.7% during the second quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider’s stock worth $138,772,000 after acquiring an additional 626,655 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Home BancShares by 0.6% in the second quarter. Geode Capital Management LLC now owns 4,572,656 shares of the financial services provider’s stock valued at $130,151,000 after purchasing an additional 26,511 shares during the period. Norges Bank bought a new position in shares of Home BancShares in the second quarter valued at about $64,545,000. Finally, Charles Schwab Investment Management Inc. increased its position in Home BancShares by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,242,307 shares of the financial services provider’s stock worth $63,390,000 after acquiring an additional 75,463 shares during the period. Institutional investors and hedge funds own 67.31% of the company’s stock.

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.