Home BancShares (NYSE:HOMB) Downgraded to “Sell” Rating by Wall Street Zen

Home BancShares (NYSE:HOMB) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other analysts also recently issued reports on HOMB. Zacks Research raised Home BancShares from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Home BancShares in a research note on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective (up previously from $34.00) on shares of Home BancShares in a research note on Friday, January 16th. Finally, Royal Bank Of Canada set a $31.00 price objective on Home BancShares in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Home BancShares Stock Performance

Shares of HOMB stock opened at $28.95 on Friday. Home BancShares has a 12 month low of $24.22 and a 12 month high of $31.27. The company’s fifty day simple moving average is $28.45 and its 200-day simple moving average is $28.35. The firm has a market cap of $5.69 billion, a PE ratio of 12.01 and a beta of 0.78. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.18.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. Home BancShares had a net margin of 32.18% and a return on equity of 11.16%. The firm had revenue of $282.09 million for the quarter, compared to analyst estimates of $272.48 million. During the same period in the previous year, the business earned $0.50 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. Equities research analysts expect that Home BancShares will post 2.19 EPS for the current fiscal year.

Insider Activity at Home BancShares

In related news, Director Donna Townsell sold 5,563 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $28.38, for a total transaction of $157,877.94. Following the transaction, the director directly owned 218,460 shares of the company’s stock, valued at approximately $6,199,894.80. The trade was a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Home BancShares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Binnacle Investments Inc increased its holdings in shares of Home BancShares by 76.7% in 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 last quarter. First Horizon Corp acquired a new stake in shares of Home BancShares during the 3rd quarter worth about $43,000. Torren Management LLC bought a new stake in shares of Home BancShares during the 4th quarter worth about $49,000. Danske Bank A S acquired a new position in Home BancShares in the 3rd quarter valued at about $57,000. Finally, Reyes Financial Architecture Inc. bought a new position in Home BancShares in the 4th quarter valued at about $62,000. 67.31% of the stock is owned by institutional investors.

Home BancShares Company Profile

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.