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 Wednesday.

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. “

Other equities analysts have also issued reports about the company. ValuEngine raised Home BancShares from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $30.00 target price on shares of Home BancShares in a report on Friday, July 21st. Stephens reaffirmed a “buy” rating on shares of Home BancShares in a report on Thursday, April 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $27.00 target price on shares of Home BancShares in a report on Friday, July 21st. Finally, Merion Capital Group reaffirmed a “neutral” rating and issued a $28.50 target price on shares of Home BancShares in a report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Home BancShares has a consensus rating of “Hold” and a consensus target price of $28.70.

Home BancShares (NASDAQ:HOMB) traded down 2.59% on Wednesday, hitting $25.19. The company had a trading volume of 789,637 shares. The company has a market capitalization of $3.60 billion, a P/E ratio of 18.87 and a beta of 1.19. Home BancShares has a one year low of $19.74 and a one year high of $29.69. The stock’s 50-day moving average price is $24.85 and its 200 day moving average price is $25.97.

Home BancShares (NASDAQ:HOMB) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $131.77 million during the quarter, compared to analyst estimates of $132.18 million. Home BancShares had a return on equity of 13.77% and a net margin of 33.97%. During the same period in the prior year, the company posted $0.31 earnings per share. On average, analysts expect that Home BancShares will post $1.38 EPS for the current fiscal year.

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In other 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, for a total transaction of $54,717.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John W. Allison acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $24.68 per share, for a total transaction of $370,200.00. Following the purchase, the chairman now owns 4,953,896 shares of the company’s stock, valued at approximately $122,262,153.28. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 32,300 shares of company stock worth $806,817. 11.27% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of HOMB. BlackRock Inc. increased 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 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 last quarter. State Street Corp increased its position in 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 last quarter. Geode Capital Management LLC increased its position in 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 last quarter. Finally, Principal Financial Group Inc. increased its position in 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 last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

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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Analyst Recommendations for Home BancShares (NASDAQ:HOMB)

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