Fifth Third Bancorp Has $2.26 Million Stake in Home BancShares, Inc. $HOMB

Fifth Third Bancorp boosted its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 3,233.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 83,898 shares of the financial services provider’s stock after purchasing an additional 81,381 shares during the quarter. Fifth Third Bancorp’s holdings in Home BancShares were worth $2,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its stake in shares of Home BancShares by 78.7% in the first quarter. Hsbc Holdings PLC now owns 142,969 shares of the financial services provider’s stock worth $3,853,000 after acquiring an additional 62,945 shares during the last quarter. Money Concepts Capital Corp acquired a new position in Home BancShares during the 1st quarter valued at $663,000. Oregon Public Employees Retirement Fund boosted its holdings in Home BancShares by 3.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,566 shares of the financial services provider’s stock valued at $1,012,000 after purchasing an additional 1,261 shares during the period. Stephens Inc. AR boosted its holdings in Home BancShares by 3.4% in the 1st quarter. Stephens Inc. AR now owns 257,469 shares of the financial services provider’s stock valued at $6,934,000 after purchasing an additional 8,520 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Home BancShares in the 1st quarter worth $322,000. 67.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HOMB shares. Citigroup restated a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Home BancShares in a research note on Tuesday. Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings upgraded Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Benchmark began coverage on Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.67.

Home BancShares Stock Performance

Shares of Home BancShares stock opened at $30.38 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $27.84 and a 200 day simple moving average of $27.85. Home BancShares, Inc. has a fifty-two week low of $25.50 and a fifty-two week high of $31.18. The firm has a market cap of $6.12 billion, a P/E ratio of 12.55 and a beta of 0.68.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. The company had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. During the same period in the prior year, the company posted $0.58 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Home BancShares, Inc. will post 2.5 earnings per share for the current fiscal year.

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.