Home BancShares, Inc. $HOMB Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Home BancShares, Inc. (NYSE:HOMB) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 863,146 shares of the financial services provider’s stock after selling 20,821 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.44% of Home BancShares worth $24,427,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Binnacle Investments Inc boosted its stake in Home BancShares by 76.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 577 shares during the last quarter. First Horizon Corp acquired a new stake in shares of Home BancShares in the 3rd quarter valued at about $43,000. Hantz Financial Services Inc. raised its stake in shares of Home BancShares by 4,480.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,794 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 2,733 shares in the last quarter. Caldwell Trust Co bought a new position in shares of Home BancShares during the second quarter worth about $146,000. Finally, Geneos Wealth Management Inc. grew its stake in Home BancShares by 34.0% in the second quarter. Geneos Wealth Management Inc. now owns 5,116 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 1,299 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Home BancShares Trading Down 4.9%

Shares of NYSE HOMB opened at $27.45 on Monday. Home BancShares, Inc. has a 12-month low of $24.22 and a 12-month high of $30.83. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 11.39 and a beta of 0.78. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $28.82 and its 200 day simple moving average is $28.45.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The firm had revenue of $269.25 million for the quarter, compared to analyst estimates of $272.48 million. Home BancShares had a return on equity of 11.16% and a net margin of 32.18%.The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. Equities research analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a $0.21 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $0.84 annualized dividend and a yield of 3.1%. Home BancShares’s dividend payout ratio (DPR) is currently 34.85%.

Insider Transactions at Home BancShares

In other news, Director Donna Townsell sold 5,563 shares of Home BancShares stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $28.38, for a total transaction of $157,877.94. Following the sale, the director owned 218,460 shares of the company’s stock, valued at approximately $6,199,894.80. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John W. Allison II sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the transaction, the director owned 651,995 shares of the company’s stock, valued at approximately $18,379,739.05. This represents a 0.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

HOMB has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $35.00 price objective (up from $34.00) on shares of Home BancShares in a research note on Friday, January 16th. Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Royal Bank Of Canada set a $31.00 price target on Home BancShares in a research report on Monday, January 12th. Zacks Research raised shares of Home BancShares from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Home BancShares in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Home BancShares Profile

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.