Bank of New York Mellon Corp Has $42.71 Million Holdings in Home BancShares, Inc. $HOMB

Bank of New York Mellon Corp trimmed its stake in shares of Home BancShares, Inc. (NYSE:HOMB) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,585,967 shares of the financial services provider’s stock after selling 20,514 shares during the period. Bank of New York Mellon Corp owned about 0.81% of Home BancShares worth $42,710,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Home BancShares by 0.8% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 52,582 shares of the financial services provider’s stock worth $1,461,000 after buying an additional 410 shares during the period. Quadrant Capital Group LLC raised its holdings 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 last quarter. Villanova Investment Management Co LLC boosted its holdings in Home BancShares by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 114,093 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 468 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 474 shares during the last quarter. Finally, DRW Securities LLC grew its position in Home BancShares by 2.8% in the fourth quarter. DRW Securities LLC now owns 19,495 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 524 shares in the last quarter. 67.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler restated an “overweight” rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a report on Thursday, July 16th. Keefe, Bruyette & Woods raised their price target on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Benchmark initiated coverage on Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Finally, Citigroup reiterated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Home BancShares presently has an average rating of “Hold” and a consensus price target of $32.67.

Home BancShares Price Performance

HOMB stock opened at $30.98 on Friday. The company’s 50-day moving average price is $28.13 and its two-hundred day moving average price is $27.91. The firm has a market cap of $6.24 billion, a P/E ratio of 12.80 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. Home BancShares, Inc. has a 12 month low of $25.50 and a 12 month high of $31.24.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $295.10 million for the quarter, compared to analyst estimates of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. On average, analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.0%. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares’s payout ratio is 34.71%.

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.