California Public Employees Retirement System Increases Stake in Home BancShares, Inc. $HOMB

California Public Employees Retirement System raised its position in Home BancShares, Inc. (NYSE:HOMB) by 6.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 372,999 shares of the financial services provider’s stock after acquiring an additional 24,005 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Home BancShares worth $10,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC increased its holdings in shares of Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Home BancShares by 164.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 674 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Home BancShares in the fourth quarter valued at about $36,000. Covestor Ltd boosted its holdings in Home BancShares by 110.6% during the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after buying an additional 697 shares in the last quarter. Finally, Binnacle Investments Inc boosted its holdings in Home BancShares by 76.7% during the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after buying an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Price Performance

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

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $295.10 million during 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 company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 earnings per share. Equities analysts predict that Home BancShares, Inc. will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.0%. Home BancShares’s payout ratio is currently 34.71%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HOMB. Citigroup reaffirmed a “neutral” rating and issued a $32.00 target price (up from $29.00) on shares of Home BancShares in a report on Tuesday. Benchmark assumed coverage on Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Home BancShares in a report on Thursday, July 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Finally, Weiss Ratings raised Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.67.

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.