Zacks Investment Research Lowers Home Bancshares (NASDAQ:HOMB) to Sell

Zacks Investment Research lowered shares of Home Bancshares (NASDAQ:HOMB) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “

HOMB has been the topic of a number of other research reports. Stephens set a $22.00 price objective on shares of Home Bancshares and gave the stock a buy rating in a report on Monday, April 22nd. ValuEngine raised shares of Home Bancshares from a strong sell rating to a sell rating in a report on Friday, April 19th. BidaskClub downgraded shares of Home Bancshares from a buy rating to a hold rating in a report on Saturday, August 3rd. TheStreet raised shares of Home Bancshares from a c+ rating to a b- rating in a report on Friday, July 26th. Finally, Piper Jaffray Companies set a $22.00 price objective on shares of Home Bancshares and gave the stock a buy rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $23.40.

Shares of HOMB stock opened at $17.46 on Tuesday. The company has a 50 day moving average price of $19.10 and a 200-day moving average price of $18.82. Home Bancshares has a 52 week low of $15.35 and a 52 week high of $24.41. The firm has a market capitalization of $3.05 billion, a PE ratio of 9.98 and a beta of 1.16. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.52.

Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $164.05 million for the quarter, compared to the consensus estimate of $166.83 million. Home Bancshares had a net margin of 36.19% and a return on equity of 12.64%. During the same quarter last year, the firm posted $0.44 earnings per share. Analysts anticipate that Home Bancshares will post 1.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, August 13th. Home Bancshares’s payout ratio is 29.71%.

In other Home Bancshares news, insider Russell Davis Carter III sold 3,333 shares of Home Bancshares stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $18.20, for a total transaction of $60,660.60. Following the transaction, the insider now owns 16,259 shares of the company’s stock, valued at $295,913.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jim Rankin sold 30,219 shares of Home Bancshares stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $19.50, for a total transaction of $589,270.50. Following the transaction, the director now directly owns 198,787 shares in the company, valued at approximately $3,876,346.50. The disclosure for this sale can be found here. Insiders have sold 43,552 shares of company stock worth $843,131 in the last ninety days. Insiders own 8.70% of the company’s stock.

A number of large investors have recently modified their holdings of HOMB. Horan Capital Advisors LLC. purchased a new position in Home Bancshares during the first quarter valued at approximately $26,000. AlphaOne Investment Services LLC purchased a new position in shares of Home Bancshares in the first quarter worth $41,000. Advisory Alpha LLC purchased a new position in shares of Home Bancshares in the first quarter worth $46,000. Royce & Associates LP purchased a new position in shares of Home Bancshares in the first quarter worth $49,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Home Bancshares by 12,851.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,346 shares of the financial services provider’s stock worth $122,000 after buying an additional 6,297 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Home Bancshares Company 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, demand, and money market accounts, as well as certificates of deposit.

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