State of Alaska Department of Revenue Has $586,000 Position in Home BancShares, Inc. $HOMB

State of Alaska Department of Revenue reduced its stake in Home BancShares, Inc. (NYSE:HOMB) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,617 shares of the financial services provider’s stock after selling 1,040 shares during the quarter. State of Alaska Department of Revenue’s holdings in Home BancShares were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its holdings in Home BancShares by 2.4% in the 1st 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 purchasing an additional 196,563 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Home BancShares by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,242,307 shares of the financial services provider’s stock worth $63,390,000 after purchasing an additional 75,463 shares during the last quarter. Nuveen LLC acquired a new stake in Home BancShares in the 1st quarter worth approximately $41,431,000. Royce & Associates LP lifted its holdings in Home BancShares by 0.5% in the 1st quarter. Royce & Associates LP now owns 1,123,775 shares of the financial services provider’s stock worth $31,769,000 after purchasing an additional 5,239 shares during the last quarter. Finally, Boston Partners lifted its holdings in Home BancShares by 1.4% in the 1st quarter. Boston Partners now owns 990,030 shares of the financial services provider’s stock worth $27,830,000 after purchasing an additional 13,813 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home BancShares Stock Performance

Shares of NYSE HOMB opened at $28.06 on Thursday. The business has a fifty day simple moving average of $28.84 and a 200 day simple moving average of $28.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 12.81 and a beta of 0.78. Home BancShares, Inc. has a one year low of $24.22 and a one year high of $32.90.

Home BancShares (NYSE:HOMB) last issued its earnings results 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 return on equity of 10.60% and a net margin of 29.58%.The business had revenue of $271.03 million during the quarter, compared to analyst estimates of $262.56 million. During the same period in the prior year, the company posted $0.52 earnings per share. Home BancShares’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Wednesday, August 13th. Home BancShares’s dividend payout ratio is 36.53%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HOMB. Keefe, Bruyette & Woods upped their price target on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Home BancShares in a report on Wednesday. Piper Sandler upped their price target on Home BancShares from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Cantor Fitzgerald began coverage on Home BancShares in a report on Wednesday, September 10th. They set a “neutral” rating and a $32.00 price target for the company. Four equities research 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, Home BancShares presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insiders Place Their Bets

In other Home BancShares news, CEO John W. Allison sold 110,000 shares of the company’s 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 sale, the chief executive officer directly owned 5,540,776 shares in the company, valued at $166,334,095.52. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.30% of the stock is owned by company insiders.

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.