Zacks Investment Research Downgrades Home BancShares Inc. (HOMB) to Hold
Home BancShares Inc. (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 target price on the stock. in a research report on Tuesday, September 13th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.78.
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Shares of Home BancShares (NASDAQ:HOMB) traded down 0.04% during mid-day trading on Tuesday, hitting $22.35. The stock had a trading volume of 195,130 shares. Home BancShares has a 12-month low of $16.93 and a 12-month high of $23.75. The company has a 50 day moving average price of $22.21 and a 200 day moving average price of $21.14. The firm 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 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.50 EPS. Equities analysts forecast that Home BancShares will post $1.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 10th were given a dividend of $0.09 per share. 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 dividend yield of 1.61%. Home BancShares’s dividend payout ratio (DPR) is 31.72%.
In other news, Director Alex R. Lieblong sold 25,000 shares of Home BancShares stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $23.01, for a total transaction of $575,250.00. Following the transaction, the director now directly owns 805,004 shares in the company, valued at approximately $18,523,142.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jim F. Haynes, Jr. sold 3,250 shares of Home BancShares stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $21.47, for a total value of $69,777.50. The disclosure for this sale can be found here. Insiders own 15.02% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in shares of Home BancShares by 83.3% in the second quarter. Macquarie Group Ltd. now owns 192,900 shares of the financial services provider’s stock valued at $3,817,000 after buying an additional 87,650 shares during the period. Mason Street Advisors LLC purchased a new position in shares of Home BancShares during the second quarter valued at about $472,000. Royal Bank of Canada boosted its position in shares of Home BancShares by 358.9% in the second quarter. Royal Bank of Canada now owns 83,030 shares of the financial services provider’s stock valued at $1,644,000 after buying an additional 64,935 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Home BancShares by 100.0% in the second quarter. Public Employees Retirement System of Ohio now owns 33,952 shares of the financial services provider’s stock valued at $672,000 after buying an additional 16,976 shares during the period. Finally, Sterling Capital Management LLC boosted its position in shares of Home BancShares by 100.0% in the second quarter. Sterling Capital Management LLC now owns 82,470 shares of the financial services provider’s stock valued at $1,632,000 after buying an additional 41,235 shares during the period. Institutional investors own 58.73% of the company’s stock.
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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