Citigroup Inc. Reduces Holdings in Home BancShares, Inc. $HOMB

Citigroup Inc. reduced its stake in Home BancShares, Inc. (NYSE:HOMB) by 33.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,843 shares of the financial services provider’s stock after selling 68,124 shares during the period. Citigroup Inc. owned about 0.07% of Home BancShares worth $3,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOMB. Inspire Advisors LLC grew its holdings in shares of Home BancShares by 1.8% in the third quarter. Inspire Advisors LLC now owns 24,720 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 435 shares during the last quarter. Arizona State Retirement System grew 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 acquiring an additional 463 shares during the last quarter. Trust Point Inc. grew its holdings in Home BancShares by 7.5% in the 3rd quarter. Trust Point Inc. now owns 8,220 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 576 shares during the last quarter. Binnacle Investments Inc increased its position 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 acquiring an additional 577 shares during the period. Finally, Hudson Edge Investment Partners Inc. raised its stake in shares of Home BancShares by 1.6% during the third quarter. Hudson Edge Investment Partners Inc. now owns 43,062 shares of the financial services provider’s stock valued at $1,219,000 after acquiring an additional 689 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

Analysts Set New Price Targets

HOMB has been the topic of several recent analyst reports. Cantor Fitzgerald cut their target price on Home BancShares from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target (up from $34.00) on shares of Home BancShares in a research report on Friday, January 16th. Royal Bank Of Canada set a $31.00 price objective on Home BancShares in a research report on Monday, January 12th. Zacks Research raised Home BancShares from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Home BancShares has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Home BancShares Stock Up 0.8%

Shares of NYSE:HOMB opened at $28.06 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.91. Home BancShares, Inc. has a 52-week low of $24.22 and a 52-week high of $30.83. The firm has a market capitalization of $5.52 billion, a P/E ratio of 11.64 and a beta of 0.78. The stock has a 50 day moving average price of $28.79 and a 200-day moving average price of $28.44.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $269.25 million for the quarter, compared to analysts’ expectations of $272.48 million. Home BancShares had a return on equity of 11.16% and a net margin of 32.18%.The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, equities research analysts anticipate that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.84 annualized dividend and a yield of 3.0%. Home BancShares’s payout ratio is presently 34.85%.

Insider Transactions at Home BancShares

In related news, Director Donna Townsell sold 5,563 shares of the firm’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 completion of the transaction, the director owned 218,460 shares of the company’s stock, valued at $6,199,894.80. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Allison II sold 5,000 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the sale, the director directly owned 651,995 shares in the company, valued at $18,379,739.05. This trade represents a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is currently owned by corporate insiders.

Home BancShares 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.