Arrowstreet Capital Limited Partnership Acquires 166,527 Shares of Home BancShares, Inc. $HOMB

Arrowstreet Capital Limited Partnership boosted its stake in shares of Home BancShares, Inc. (NYSE:HOMB) by 148.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 278,941 shares of the financial services provider’s stock after purchasing an additional 166,527 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Home BancShares were worth $7,939,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in HOMB. Norges Bank purchased a new position in Home BancShares in the second quarter valued at about $64,545,000. Nuveen LLC bought a new stake in shares of Home BancShares in the 1st quarter worth approximately $41,431,000. American Century Companies Inc. raised its holdings in shares of Home BancShares by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider’s stock worth $138,772,000 after purchasing an additional 626,655 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Home BancShares in the 2nd quarter worth approximately $5,825,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Home BancShares by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,404,440 shares of the financial services provider’s stock valued at $237,594,000 after purchasing an additional 196,563 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

Analysts Set New Price Targets

HOMB has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on Home BancShares in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $32.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Home BancShares in a research note on Wednesday, October 8th. Piper Sandler set a $34.00 price objective on Home BancShares and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Wall Street Zen downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a report on Sunday, November 2nd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

Home BancShares Stock Performance

Home BancShares stock opened at $28.53 on Thursday. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $31.27. The firm’s fifty day moving average price is $27.53 and its 200-day moving average price is $28.35. The stock has a market cap of $5.61 billion, a P/E ratio of 12.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 0.90.

Home BancShares (NYSE:HOMB) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Home BancShares had a return on equity of 10.94% and a net margin of 31.20%.The business had revenue of $277.67 million for the quarter, compared to the consensus estimate of $269.96 million. During the same quarter last year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts expect that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.9%. This is a boost from Home BancShares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, November 12th. Home BancShares’s payout ratio is 36.21%.

Home BancShares Profile

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.