Home BancShares (NYSE:HOMB) Stock Rating Upgraded by Wall Street Zen

Home BancShares (NYSE:HOMB) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

HOMB has been the topic of a number of other reports. Benchmark began coverage on Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods increased their price objective on Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Stephens raised their target price on Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Citigroup reissued a “neutral” rating and issued a $32.00 target price (up from $29.00) on shares of Home BancShares in a report on Tuesday. Finally, Piper Sandler restated an “overweight” rating and set a $36.00 target price (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.67.

Home BancShares Stock Up 0.8%

Shares of NYSE:HOMB opened at $30.98 on Friday. Home BancShares has a fifty-two week low of $25.50 and a fifty-two week 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 firm’s 50-day simple moving average is $28.13 and its 200-day simple moving average is $27.91. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 12.80 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, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $288.70 million. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, equities research analysts predict that Home BancShares will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On Home BancShares

Several hedge funds have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 674 shares during the last quarter. Root Financial Partners LLC raised its holdings in Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 474 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Home BancShares in the 4th quarter valued at $36,000. Covestor Ltd lifted its stake in shares of Home BancShares by 110.6% during the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 697 shares during the period. Finally, Binnacle Investments Inc lifted its stake in shares of Home BancShares by 76.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 577 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

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.