Home BancShares, Inc. (NASDAQ:HOMB) Issues Quarterly Earnings Results
Home BancShares, Inc. (NASDAQ:HOMB) announced its quarterly earnings results on Thursday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02, Bloomberg Earnings reports. Home BancShares had a return on equity of 13.81% and a net margin of 33.82%. During the same quarter in the prior year, the business posted $0.31 earnings per share.
Shares of Home BancShares (NASDAQ HOMB) traded down 1.61% on Thursday, hitting $24.50. The company had a trading volume of 626,285 shares. Home BancShares has a 1-year low of $19.74 and a 1-year high of $29.69. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 18.89 and a beta of 1.19. The company has a 50 day moving average price of $24.60 and a 200 day moving average price of $26.06.
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Several equities research analysts have issued reports on HOMB shares. Keefe, Bruyette & Woods raised Home BancShares from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Monday, May 15th. Zacks Investment Research upgraded Home BancShares from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. Stephens reiterated a “buy” rating on shares of Home BancShares in a research report on Thursday, April 20th. Merion Capital Group reiterated a “neutral” rating and set a $28.50 price objective on shares of Home BancShares in a research report on Monday, April 24th. Finally, BidaskClub cut Home BancShares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Home BancShares has an average rating of “Hold” and an average target price of $28.13.
In related news, insider Tracy French acquired 2,300 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $23.79 per share, with a total value of $54,717.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jim F. Haynes, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $25.50, for a total value of $38,250.00. The disclosure for this sale can be found here. Corporate insiders own 11.27% of the company’s stock.
A number of hedge funds have recently modified their holdings of HOMB. Oregon Public Employees Retirement Fund bought a new stake in shares of Home BancShares during the second quarter worth about $119,000. LS Investment Advisors LLC raised its position in shares of Home BancShares by 58.7% in the first quarter. LS Investment Advisors LLC now owns 7,367 shares of the financial services provider’s stock worth $199,000 after buying an additional 2,725 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Home BancShares during the first quarter worth $204,000. Stifel Financial Corp raised its position in shares of Home BancShares by 6.5% in the first quarter. Stifel Financial Corp now owns 7,930 shares of the financial services provider’s stock worth $213,000 after buying an additional 485 shares in the last quarter. Finally, World Asset Management Inc raised its position in shares of Home BancShares by 3.4% in the first quarter. World Asset Management Inc now owns 8,027 shares of the financial services provider’s stock worth $217,000 after buying an additional 264 shares in the last quarter. 60.24% 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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