PNC Financial Services Group Inc. decreased its stake in Home Bancshares Inc (NASDAQ:HOMB) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,431 shares of the financial services provider’s stock after selling 52,687 shares during the period. PNC Financial Services Group Inc.’s holdings in Home Bancshares were worth $26,158,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC acquired a new position in Home Bancshares in the first quarter valued at approximately $1,770,000. Principal Financial Group Inc. boosted its holdings in Home Bancshares by 2.3% in the first quarter. Principal Financial Group Inc. now owns 685,671 shares of the financial services provider’s stock valued at $15,640,000 after purchasing an additional 15,174 shares in the last quarter. Bank of Montreal Can acquired a new position in Home Bancshares in the second quarter valued at approximately $184,000. Alps Advisors Inc. acquired a new position in Home Bancshares in the second quarter valued at approximately $487,000. Finally, Aperio Group LLC boosted its holdings in Home Bancshares by 12.9% in the second quarter. Aperio Group LLC now owns 41,996 shares of the financial services provider’s stock valued at $947,000 after purchasing an additional 4,809 shares in the last quarter. Institutional investors own 66.32% of the company’s stock.
In related news, insider Tracy French purchased 2,500 shares of the business’s stock in a transaction dated Friday, October 19th. The stock was acquired at an average price of $19.25 per share, for a total transaction of $48,125.00. Following the completion of the purchase, the insider now directly owns 112,601 shares of the company’s stock, valued at $2,167,569.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 9.15% of the stock is currently owned by corporate insiders.
Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The business had revenue of $171.76 million during the quarter, compared to the consensus estimate of $171.67 million. Home Bancshares had a return on equity of 12.73% and a net margin of 32.68%. During the same period in the prior year, the company earned $0.10 earnings per share. On average, sell-side analysts predict that Home Bancshares Inc will post 1.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 14th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, November 13th. Home Bancshares’s payout ratio is currently 35.56%.
Several research firms have recently weighed in on HOMB. Stephens reissued a “buy” rating and issued a $28.00 price objective on shares of Home Bancshares in a report on Thursday, October 18th. TheStreet downgraded Home Bancshares from a “b-” rating to a “c+” rating in a report on Monday, October 29th. ValuEngine downgraded Home Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. BidaskClub raised Home Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Finally, Zacks Investment Research downgraded Home Bancshares from a “buy” rating to a “hold” rating in a report on Monday, September 3rd. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $27.00.
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Home Bancshares Profile
Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, NOW, and money market accounts, as well as certificates of deposit.
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