Hsbc Holdings PLC Sells 47,870 Shares of Home BancShares, Inc. $HOMB

Hsbc Holdings PLC cut its stake in Home BancShares, Inc. (NYSE:HOMB) by 37.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,024 shares of the financial services provider’s stock after selling 47,870 shares during the period. Hsbc Holdings PLC’s holdings in Home BancShares were worth $2,225,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC grew its holdings in shares of Home BancShares by 164.8% during the 4th 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 period. Kestra Advisory Services LLC purchased a new position in shares of Home BancShares in the 4th quarter valued at approximately $36,000. Covestor Ltd boosted its position in shares of 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 purchasing an additional 697 shares in the last quarter. Binnacle Investments Inc grew its stake in Home BancShares by 76.7% in the second 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. Finally, Torren Management LLC bought a new position in Home BancShares in the fourth quarter worth $49,000. 67.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Home BancShares Trading Down 1.9%

NYSE:HOMB opened at $28.74 on Tuesday. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 11.83 and a beta of 0.68. 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 company’s 50 day moving average price is $27.05 and its 200-day moving average price is $27.76. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $30.83.

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

Home BancShares Dividend Announcement

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

Insider Transactions at Home BancShares

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