Home BancShares Inc. (HOMB) Upgraded to “Buy” at Zacks Investment Research
Home BancShares Inc. (NASDAQ:HOMB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $23.00 price objective on the financial services provider’s stock. Zacks Investment Research’s target price points to a potential upside of 14.60% from the company’s previous close.
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. “
A number of other research firms also recently weighed in on HOMB. FIG Partners downgraded Home BancShares from an “outperform” rating to a “market perform” rating in a research report on Monday, April 25th. Raymond James Financial Inc. upped their target price on Home BancShares from $21.50 to $22.50 in a research report on Thursday, April 7th. Finally, Piper Jaffray Cos. initiated coverage on Home BancShares in a research report on Thursday, April 7th. They set a “neutral” rating and a $22.25 target price for the company. Five 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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/16/home-bancshares-inc-homb-upgraded-to-buy-at-zacks-investment-research.html
Shares of Home BancShares (NASDAQ:HOMB) traded up 0.90% during mid-day trading on Monday, reaching $20.07. The company had a trading volume of 492,145 shares. The firm’s 50-day moving average price is $21.84 and its 200 day moving average price is $21.17. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 17.76 and a beta of 0.96. Home BancShares has a 52-week low of $16.93 and a 52-week high of $23.75.
Home BancShares (NASDAQ:HOMB) last released its earnings results on Thursday, July 21st. The financial services provider reported $0.31 earnings per share for the quarter, beating 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 earnings per share. Equities analysts expect that Home BancShares will post $1.23 EPS for the current year.
In other Home BancShares news, insider Russell Davis Carter III sold 8,000 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $21.22, for a total value of $169,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Davis sold 14,888 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $23.15, for a total value of $344,657.20. The disclosure for this sale can be found here. 15.02% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its position in shares of Home BancShares by 15.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 44,500 shares of the financial services provider’s stock worth $1,803,000 after buying an additional 5,914 shares during the period. Nationwide Fund Advisors increased its position in shares of Home BancShares by 1.9% in the fourth quarter. Nationwide Fund Advisors now owns 38,906 shares of the financial services provider’s stock worth $1,576,000 after buying an additional 708 shares during the period. Sei Investments Co. increased its position in shares of Home BancShares by 400.9% in the fourth quarter. Sei Investments Co. now owns 60,197 shares of the financial services provider’s stock worth $2,439,000 after buying an additional 48,180 shares during the period. First Trust Advisors LP increased its position in shares of Home BancShares by 61.9% in the fourth quarter. First Trust Advisors LP now owns 157,417 shares of the financial services provider’s stock worth $6,379,000 after buying an additional 60,158 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Home BancShares by 10.2% in the fourth quarter. Rhumbline Advisers now owns 75,596 shares of the financial services provider’s stock worth $3,063,000 after buying an additional 6,980 shares during the period. 58.69% of the stock is owned by institutional investors.
About Home BancShares
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Home BancShares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home BancShares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.