Wealth Enhancement Advisory Services LLC Decreases Stake in Home BancShares, Inc. $HOMB

Wealth Enhancement Advisory Services LLC reduced its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,290 shares of the financial services provider’s stock after selling 1,161 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Home BancShares were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Home BancShares in the 2nd quarter worth about $440,000. Harbor Capital Advisors Inc. grew its stake in shares of Home BancShares by 1.5% in the second quarter. Harbor Capital Advisors Inc. now owns 74,249 shares of the financial services provider’s stock worth $2,113,000 after acquiring an additional 1,110 shares during the period. Strs Ohio purchased a new position in shares of Home BancShares during the first quarter valued at approximately $517,000. Geneos Wealth Management Inc. lifted its position in Home BancShares by 155.8% during the first quarter. Geneos Wealth Management Inc. now owns 3,817 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 2,325 shares during the period. Finally, Intech Investment Management LLC lifted its position in Home BancShares by 25.3% during the first quarter. Intech Investment Management LLC now owns 84,763 shares of the financial services provider’s stock valued at $2,396,000 after purchasing an additional 17,129 shares during the period. 67.31% of the stock is currently owned by institutional investors.

Home BancShares Stock Performance

HOMB opened at $28.12 on Monday. The company has a 50 day simple moving average of $28.87 and a two-hundred day simple moving average of $28.39. 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 firm has a market cap of $5.54 billion, a P/E ratio of 12.84 and a beta of 0.78. Home BancShares, Inc. has a 1-year low of $24.22 and a 1-year high of $32.90.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The firm had revenue of $271.03 million for the quarter, compared to the consensus estimate of $262.56 million. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. Equities analysts forecast that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders 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 2.8%. Home BancShares’s dividend payout ratio is 36.53%.

Insider Activity

In related news, CEO John W. Allison sold 110,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. This trade represents a 1.95% decrease in their ownership of the stock. The transaction 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.

Analysts Set New Price Targets

A number of equities research analysts have commented on HOMB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home BancShares in a research report on Saturday, September 27th. Keefe, Bruyette & Woods raised their price target on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a research report on Saturday. Piper Sandler increased their target price on Home BancShares from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Cantor Fitzgerald initiated coverage on Home BancShares in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $32.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.00.

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.