Home BancShares, Inc. (NYSE:HOMB) Given Average Recommendation of “Moderate Buy” by Brokerages

Home BancShares, Inc. (NYSE:HOMB) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.8333.

A number of equities analysts recently weighed in on HOMB shares. Piper Sandler set a $34.00 price target on shares of Home BancShares and gave the stock an “overweight” rating in a report on Friday, October 17th. Wall Street Zen cut shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Home BancShares in a research note on Monday. Finally, 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 price target on the stock.

Institutional Investors Weigh In On Home BancShares

Several large investors have recently added to or reduced their stakes in the company. BTC Capital Management Inc. lifted its holdings in Home BancShares by 2.3% during the second quarter. BTC Capital Management Inc. now owns 16,683 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 374 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Home BancShares by 4.3% in the third quarter. Quadrant Capital Group LLC now owns 10,360 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 425 shares during the period. Inspire Advisors LLC lifted its stake in shares of Home BancShares by 1.8% during the 3rd quarter. Inspire Advisors LLC now owns 24,720 shares of the financial services provider’s stock valued at $700,000 after buying an additional 435 shares in the last quarter. Arizona State Retirement System boosted its holdings in Home BancShares by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 55,511 shares of the financial services provider’s stock worth $1,571,000 after buying an additional 463 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Home BancShares by 0.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 66,765 shares of the financial services provider’s stock worth $1,900,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Stock Performance

HOMB stock opened at $27.78 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.46 billion, a PE ratio of 11.97 and a beta of 0.78. The business has a 50 day moving average of $27.81 and a 200-day moving average of $28.37. Home BancShares has a 12-month low of $24.22 and a 12-month high of $31.27.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $277.67 million for the quarter, compared to analysts’ expectations of $269.96 million. Home BancShares had a return on equity of 10.94% and a net margin of 31.20%.The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, sell-side analysts expect that Home BancShares will post 2.19 earnings per share for the current year.

Home BancShares Increases Dividend

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

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.