Home BancShares (NYSE:HOMB) Price Target Lowered to $30.00 at Keefe, Bruyette & Woods

Home BancShares (NYSE:HOMB) had its price target cut by Keefe, Bruyette & Woods from $32.00 to $30.00 in a research report released on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald cut their price objective on Home BancShares from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday. Stephens cut their price objective on Home BancShares from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank Of Canada set a $31.00 price target on Home BancShares in a research note on Monday, January 12th. Finally, Zacks Research downgraded Home BancShares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Home BancShares currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.40.

Home BancShares Trading Up 1.1%

Shares of NYSE:HOMB opened at $27.18 on Monday. The stock has a 50 day moving average of $27.62 and a 200 day moving average of $27.92. The company has a market cap of $5.34 billion, a PE ratio of 11.18 and a beta of 0.75. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. Home BancShares has a 12-month low of $25.67 and a 12-month high of $30.83.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $266.71 million during the quarter, compared to the consensus estimate of $274.06 million. Home BancShares had a return on equity of 11.11% and a net margin of 32.48%.The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. As a group, equities research analysts expect that Home BancShares will post 2.52 EPS for the current year.

Home BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.1%. The ex-dividend date was Wednesday, February 11th. Home BancShares’s dividend payout ratio is presently 34.57%.

Insiders Place Their Bets

In other Home BancShares news, Director Donna Townsell sold 5,563 shares of the company’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 value of $157,877.94. Following the completion of the transaction, the director directly owned 218,460 shares in the company, valued at $6,199,894.80. This represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John W. Allison purchased 100,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was acquired at an average price of $26.96 per share, with a total value of $2,696,000.00. Following the completion of the purchase, the chief executive officer directly owned 5,798,926 shares in the company, valued at $156,339,044.96. This trade represents a 1.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in shares of Home BancShares by 164.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 674 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Home BancShares during the 4th quarter valued at approximately $36,000. Covestor Ltd boosted its position in shares of Home BancShares by 110.6% during the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 697 shares during the last quarter. Binnacle Investments Inc boosted its position in shares of Home BancShares by 76.7% during the 2nd 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 last quarter. Finally, First Horizon Corp bought a new position in shares of Home BancShares during the 3rd quarter valued at approximately $43,000. 67.31% of the stock is currently 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.