Home BancShares (NYSE:HOMB) Price Target Cut to $31.00 by Analysts at Cantor Fitzgerald

Home BancShares (NYSE:HOMB) had its price target cut by Cantor Fitzgerald from $32.00 to $31.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

HOMB has been the topic of a number of other reports. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price (up from $34.00) on shares of Home BancShares in a research note on Friday, January 16th. Zacks Research raised Home BancShares from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Royal Bank Of Canada set a $31.00 price objective on Home BancShares in a research report on Monday, January 12th. Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Home BancShares in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.40.

Home BancShares Stock Down 0.3%

Home BancShares stock opened at $27.89 on Tuesday. The company has a market capitalization of $5.48 billion, a P/E ratio of 11.57 and a beta of 0.78. Home BancShares has a 1-year low of $24.22 and a 1-year high of $30.83. The firm’s fifty day simple moving average is $28.80 and its 200-day simple moving average is $28.44. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. Home BancShares had a return on equity of 11.16% and a net margin of 32.18%.The company had revenue of $269.25 million during the quarter, compared to analysts’ expectations of $272.48 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Sell-side analysts forecast that Home BancShares will post 2.19 earnings per share for the current fiscal year.

Home BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, February 11th. Home BancShares’s dividend payout ratio (DPR) is presently 34.85%.

Insiders Place Their Bets

In related news, Director John W. Allison II sold 5,000 shares of the firm’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 transaction, the director directly owned 651,995 shares of the company’s stock, valued at $18,379,739.05. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna Townsell sold 5,563 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $28.38, for a total transaction of $157,877.94. Following the completion of the sale, the director directly owned 218,460 shares in the company, valued at $6,199,894.80. This trade represents a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Home BancShares

A number of institutional investors have recently added to or reduced their stakes in HOMB. CIBC Private Wealth Group LLC boosted its stake in Home BancShares by 164.8% in 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 buying an additional 674 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Home BancShares during the fourth quarter valued at $36,000. Covestor Ltd lifted its holdings in shares of Home BancShares by 110.6% during the fourth 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 period. Binnacle Investments Inc boosted its stake in shares of Home BancShares by 76.7% in the 2nd 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 in the last quarter. Finally, First Horizon Corp bought a new stake in shares of Home BancShares in the 3rd quarter worth about $43,000. 67.31% of the stock is owned by institutional investors and hedge funds.

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.