Home BancShares Inc. (HOMB) Lowered to “Hold” at Zacks Investment Research
Home BancShares Inc. (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
Separately, Sandler O’Neill cut Home BancShares from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Tuesday, September 13th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.78.
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Home BancShares (NASDAQ:HOMB) traded down 0.04% on Tuesday, hitting $22.35. The stock had a trading volume of 195,130 shares. Home BancShares has a 1-year low of $16.93 and a 1-year high of $23.75. The stock has a 50 day moving average price of $22.21 and a 200 day moving average price of $21.14. The company has a market cap of $3.14 billion, a P/E ratio of 19.78 and a beta of 0.99.
Home BancShares (NASDAQ:HOMB) last posted its earnings results on Thursday, July 21st. The financial services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Home BancShares had a return on equity of 13.43% and a net margin of 32.13%. During the same quarter in the prior year, the business posted $0.50 EPS. On average, equities research analysts expect that Home BancShares will post $1.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 10th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, August 8th. This is a boost from Home BancShares’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.61%. Home BancShares’s dividend payout ratio is 31.72%.
In related news, insider Jim F. Haynes, Jr. sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $21.47, for a total value of $69,777.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Russell Davis Carter III sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $21.22, for a total value of $169,760.00. The disclosure for this sale can be found here. 15.02% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in HOMB. Delta Asset Management LLC TN boosted its position in Home BancShares by 100.0% in the second quarter. Delta Asset Management LLC TN now owns 6,244 shares of the financial services provider’s stock valued at $124,000 after buying an additional 3,122 shares during the period. Bank of Montreal Can acquired a new position in Home BancShares during the second quarter valued at about $133,000. BlackRock Inc. boosted its position in Home BancShares by 130.7% in the first quarter. BlackRock Inc. now owns 3,745 shares of the financial services provider’s stock valued at $153,000 after buying an additional 2,122 shares during the period. Bessemer Group Inc. boosted its position in Home BancShares by 100.0% in the second quarter. Bessemer Group Inc. now owns 7,986 shares of the financial services provider’s stock valued at $158,000 after buying an additional 3,993 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Home BancShares by 2.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,268 shares of the financial services provider’s stock valued at $174,000 after buying an additional 113 shares during the period. 58.73% of the stock is currently owned by institutional investors and hedge funds.
Home BancShares Company Profile
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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