Home BancShares (NYSE:HOMB) Cut to Sell at Wall Street Zen

Home BancShares (NYSE:HOMB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other research analysts also recently commented on the stock. Piper Sandler set a $34.00 target price on shares of Home BancShares and gave the stock an “overweight” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home BancShares in a report on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on shares of Home BancShares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $32.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Home BancShares Stock Down 0.1%

Home BancShares stock opened at $26.71 on Friday. The company has a market capitalization of $5.26 billion, a P/E ratio of 11.51 and a beta of 0.78. The firm’s fifty day simple moving average is $28.45 and its 200-day simple moving average is $28.45. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. Home BancShares has a 1-year low of $24.22 and a 1-year high of $32.90.

Home BancShares (NYSE:HOMB) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $277.70 million for the quarter, compared to the consensus estimate of $269.96 million. Home BancShares had a net margin of 31.20% and a return on equity of 10.94%. Home BancShares’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. Sell-side analysts forecast that Home BancShares will post 2.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Home BancShares

In related news, CEO John W. Allison sold 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 directly owned 5,540,776 shares of the company’s stock, valued at $166,334,095.52. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HOMB. Binnacle Investments Inc grew its holdings in Home BancShares by 76.7% during the second 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 period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Home BancShares during the first quarter valued at approximately $39,000. First Horizon Corp acquired a new position in Home BancShares during the third quarter valued at approximately $43,000. Summit Securities Group LLC acquired a new position in Home BancShares during the first quarter valued at approximately $64,000. Finally, GAMMA Investing LLC grew its holdings in Home BancShares by 60.8% during the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 995 shares during the period. Institutional investors and hedge funds 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.