Home BancShares (NYSE:HOMB) Hits New 52-Week High – What’s Next?

Home BancShares, Inc. (NYSE:HOMB) shares reached a new 52-week high during trading on Friday . The stock traded as high as $31.24 and last traded at $31.1730, with a volume of 375174 shares. The stock had previously closed at $30.73.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. 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. Weiss Ratings raised shares of Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a research note on Saturday. Benchmark initiated coverage on Home BancShares in a report on Wednesday, June 24th. They issued a “hold” rating on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Home BancShares in a research report on Thursday, July 16th. Three investment 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, Home BancShares currently has a consensus rating of “Hold” and a consensus target price of $32.67.

Home BancShares Stock Performance

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 stock has a market cap of $6.24 billion, a PE ratio of 12.80 and a beta of 0.68. The firm has a fifty day moving average price of $28.13 and a 200 day moving average price of $27.91.

Home BancShares (NYSE:HOMB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.The company had revenue of $295.10 million for the quarter, compared to analyst estimates of $288.70 million. During the same period in the prior year, the company posted $0.58 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 12th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. Home BancShares’s payout ratio is presently 34.71%.

Institutional Investors Weigh In On Home BancShares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Point Inc. acquired a new position in shares of Home BancShares in the 2nd quarter valued at about $205,000. Kwmg LLC grew its holdings in Home BancShares by 2.6% during the second quarter. Kwmg LLC now owns 266,746 shares of the financial services provider’s stock worth $7,616,000 after acquiring an additional 6,820 shares during the period. Apella Capital LLC grew its holdings in Home BancShares by 41.6% during the second quarter. Apella Capital LLC now owns 14,534 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 4,273 shares during the period. Versant Capital Management Inc raised its position in Home BancShares by 153.3% during the second quarter. Versant Capital Management Inc now owns 1,857 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,124 shares in the last quarter. Finally, Cim Investment Management Inc. raised its position in Home BancShares by 41.3% during the first quarter. Cim Investment Management Inc. now owns 11,999 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 3,508 shares in the last quarter. 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.