Bank of New York Mellon Corp Sells 20,514 Shares of Home BancShares, Inc. $HOMB

Bank of New York Mellon Corp decreased its position in shares of Home BancShares, Inc. (NYSE:HOMB) by 1.3% during the 1st quarter, HoldingsChannel reports. The fund owned 1,585,967 shares of the financial services provider’s stock after selling 20,514 shares during the period. Bank of New York Mellon Corp’s holdings in Home BancShares were worth $42,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HOMB. Norges Bank acquired a new stake in shares of Home BancShares during the fourth quarter valued at about $66,673,000. First Trust Advisors LP boosted its position in Home BancShares by 37.3% during the 4th quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock worth $85,031,000 after buying an additional 830,823 shares during the period. Vanguard Group Inc. increased its position in Home BancShares by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock valued at $567,372,000 after acquiring an additional 621,751 shares during the period. AQR Capital Management LLC raised its stake in shares of Home BancShares by 82.9% during the third quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock valued at $31,716,000 after acquiring an additional 508,127 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Home BancShares during the second quarter worth $12,931,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Benchmark initiated coverage on Home BancShares in a report on Wednesday, June 24th. They issued a “hold” rating on the stock. Finally, Stephens boosted their price target on shares of Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.67.

Home BancShares Price Performance

Shares of HOMB opened at $30.98 on Friday. The business’s fifty day moving average is $28.13 and its 200 day moving average is $27.91. Home BancShares, Inc. has a 12-month low of $25.50 and a 12-month high of $31.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The stock has a market cap of $6.24 billion, a P/E ratio of 12.80 and a beta of 0.68.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 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 business had revenue of $295.10 million during the quarter, compared to analyst estimates of $288.70 million. During the same quarter in the previous year, the business posted $0.58 EPS. Home BancShares’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s dividend payout ratio (DPR) is currently 34.71%.

Home BancShares Company 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.