Copeland Capital Management LLC Cuts Stake in Home BancShares, Inc. $HOMB

Copeland Capital Management LLC decreased its position in Home BancShares, Inc. (NYSE:HOMB) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,765,605 shares of the financial services provider’s stock after selling 144,043 shares during the quarter. Home BancShares makes up 1.6% of Copeland Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Copeland Capital Management LLC owned 1.40% of Home BancShares worth $78,267,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HOMB. Hsbc Holdings PLC bought a new stake in shares of Home BancShares during the 1st quarter valued at about $227,000. Dark Forest Capital Management LP purchased a new stake in Home BancShares in the first quarter worth about $3,680,000. Zurich Insurance Group Ltd FI bought a new stake in Home BancShares during the 1st quarter valued at approximately $1,300,000. Vest Financial LLC grew its holdings in shares of Home BancShares by 22.5% during the 2nd quarter. Vest Financial LLC now owns 73,280 shares of the financial services provider’s stock worth $2,086,000 after acquiring an additional 13,473 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Home BancShares by 14.7% in the 2nd 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. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Home BancShares Trading Down 0.8%

NYSE HOMB opened at $28.14 on Tuesday. Home BancShares, Inc. has a 12 month low of $24.22 and a 12 month high of $31.27. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average price is $27.77 and its 200-day moving average price is $28.37. The stock has a market cap of $5.53 billion, a P/E ratio of 12.13 and a beta of 0.78.

Home BancShares (NYSE:HOMB) last released its quarterly earnings data 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 $277.67 million during the quarter, compared to analyst estimates 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 was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. As a group, equities analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, November 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.20. Home BancShares’s dividend payout ratio (DPR) is presently 36.21%.

Analysts Set New Price Targets

A number of research analysts have recently commented on HOMB shares. Piper Sandler set a $34.00 target price on Home BancShares and gave the company an “overweight” rating in a research note on Friday, October 17th. Wall Street Zen cut shares of Home BancShares from a “hold” rating to a “sell” rating in a report on Sunday, November 2nd. Cantor Fitzgerald began coverage on shares of Home BancShares in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $32.00 target price on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Home BancShares in a research report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

About Home BancShares

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.