Insider Buying: Home BancShares, Inc. (HOMB) Chairman Acquires 15,000 Shares of Stock
Home BancShares, Inc. (NASDAQ:HOMB) Chairman John W. Allison acquired 15,000 shares of the stock in a transaction on Monday, July 24th. The stock was bought at an average price of $24.68 per share, with a total value of $370,200.00. Following the transaction, the chairman now directly owns 4,953,896 shares of the company’s stock, valued at approximately $122,262,153.28. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Home BancShares, Inc. (HOMB) traded up 4.36% during mid-day trading on Tuesday, reaching $25.86. The company’s stock had a trading volume of 1,036,486 shares. Home BancShares, Inc. has a 52-week low of $19.74 and a 52-week high of $29.69. The company has a market cap of $3.70 billion, a PE ratio of 19.37 and a beta of 1.19. The company has a 50-day moving average price of $24.70 and a 200 day moving average price of $25.99.
Home BancShares (NASDAQ:HOMB) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Home BancShares had a return on equity of 13.77% and a net margin of 33.97%. The firm had revenue of $131.77 million during the quarter, compared to analyst estimates of $132.18 million. During the same period last year, the company earned $0.31 EPS. Equities analysts expect that Home BancShares, Inc. will post $1.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, August 14th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 1.78%. Home BancShares’s payout ratio is 26.87%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOMB. BlackRock Inc. raised its position in Home BancShares by 37,629.8% in the first quarter. BlackRock Inc. now owns 16,430,592 shares of the financial services provider’s stock valued at $444,776,000 after buying an additional 16,387,044 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Home BancShares by 9.6% in the first quarter. Vanguard Group Inc. now owns 11,113,886 shares of the financial services provider’s stock valued at $300,852,000 after buying an additional 973,217 shares during the period. State Street Corp increased its position in shares of Home BancShares by 4.9% in the first quarter. State Street Corp now owns 4,520,817 shares of the financial services provider’s stock valued at $122,383,000 after buying an additional 212,972 shares during the period. Geode Capital Management LLC increased its position in shares of Home BancShares by 11.9% in the first quarter. Geode Capital Management LLC now owns 1,136,720 shares of the financial services provider’s stock valued at $30,771,000 after buying an additional 120,919 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Home BancShares by 5.1% in the first quarter. Principal Financial Group Inc. now owns 978,476 shares of the financial services provider’s stock valued at $26,487,000 after buying an additional 47,059 shares during the period. 60.23% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on HOMB shares. 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 issued a $28.50 price objective on shares of Home BancShares in a research report on Monday, April 24th. Keefe, Bruyette & Woods upgraded Home BancShares from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Monday, May 15th. BidaskClub upgraded Home BancShares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, Zacks Investment Research upgraded Home BancShares from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.30.
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).
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