Home BancShares (NYSE:HOMB) Earns Neutral Rating from Analysts at Cantor Fitzgerald

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

Other analysts also recently issued research reports about the stock. Piper Sandler lifted their target price on Home BancShares from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. 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. Finally, Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Home BancShares Price Performance

HOMB stock opened at $29.41 on Tuesday. Home BancShares has a 1 year low of $24.22 and a 1 year high of $32.90. The company has a market cap of $5.80 billion, a P/E ratio of 13.43 and a beta of 0.81. The firm has a 50-day moving average of $29.05 and a 200 day moving average of $28.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings data 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 company had revenue of $271.03 million during the quarter, compared to analyst estimates of $262.56 million. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Home BancShares will post 2.19 EPS for the current year.

Home BancShares Announces Dividend

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

Insider Activity

In related news, 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 value of $3,302,200.00. Following the completion of the transaction, the chief executive officer directly owned 5,540,776 shares of the company’s stock, valued at approximately $166,334,095.52. This represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Stephen Tipton sold 24,159 shares of the company’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Home BancShares

A number of institutional investors have recently added to or reduced their stakes in the stock. Binnacle Investments Inc boosted its holdings in Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 577 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Home BancShares during the 1st quarter valued at approximately $39,000. Summit Securities Group LLC acquired a new position in Home BancShares in the first quarter valued at approximately $64,000. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 995 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Home BancShares by 32.4% in the first quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 647 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Company 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.