53,000 Shares in Home BancShares, Inc. $HOMB Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Home BancShares, Inc. (NYSE:HOMB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 53,000 shares of the financial services provider’s stock, valued at approximately $1,427,000.

Several other large investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its stake in shares of Home BancShares by 164.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 674 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Home BancShares in the 4th quarter worth $36,000. Covestor Ltd raised its holdings in Home BancShares by 110.6% during the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 697 shares during the period. Binnacle Investments Inc lifted its position in shares of Home BancShares by 76.7% in the second 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 in the last quarter. Finally, Torren Management LLC purchased a new position in shares of Home BancShares in the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HOMB has been the subject of several research analyst reports. Wall Street Zen cut Home BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $30.00 price objective (down from $31.00) on shares of Home BancShares in a report on Tuesday, May 19th. Keefe, Bruyette & Woods lowered their target price on shares of Home BancShares from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Monday, April 20th. Weiss Ratings lowered shares of Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Piper Sandler set a $33.00 target price on shares of Home BancShares and gave the company an “overweight” rating in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.20.

Home BancShares Stock Down 0.7%

NYSE HOMB opened at $28.70 on Friday. The stock has a 50 day moving average price of $27.15 and a 200-day moving average price of $27.77. Home BancShares, Inc. has a one year low of $25.50 and a one year high of $30.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $5.78 billion, a P/E ratio of 11.81 and a beta of 0.68.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%. The company had revenue of $266.71 million for the quarter, compared to analysts’ expectations of $274.06 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. Home BancShares’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities analysts predict that Home BancShares, Inc. will post 2.48 EPS for the current fiscal year.

Home BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. Home BancShares’s dividend payout ratio (DPR) is presently 34.57%.

Insider Transactions at Home BancShares

In related news, CEO John W. Allison acquired 100,000 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were acquired at an average cost of $26.96 per share, for a total transaction of $2,696,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,798,926 shares in the company, valued at approximately $156,339,044.96. This trade represents a 1.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer C. Floyd sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total value of $81,330.00. Following the completion of the sale, the chief accounting officer directly owned 4,635 shares of the company’s stock, valued at $125,654.85. The trade was a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.39% of the stock is currently owned by company insiders.

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.