Home Bancshares (NASDAQ:HOMB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Home Bancshares (NASDAQ:HOMB) from a sell rating to a hold rating in a research note issued to investors on Wednesday 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. “

Several other equities analysts have also recently issued reports on HOMB. BidaskClub upgraded Home Bancshares from a sell rating to a hold rating in a report on Friday, September 13th. Piper Jaffray Companies set a $22.00 price target on Home Bancshares and gave the stock a buy rating in a research report on Friday, July 19th. Finally, TheStreet raised Home Bancshares from a c+ rating to a b- rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Home Bancshares currently has an average rating of Hold and a consensus target price of $23.00.

Shares of HOMB stock opened at $19.01 on Wednesday. The stock has a 50 day moving average of $18.15 and a 200-day moving average of $18.60. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.52. The firm has a market cap of $3.23 billion, a PE ratio of 11.03 and a beta of 1.21. Home Bancshares has a 12 month low of $15.35 and a 12 month high of $23.58.

Home Bancshares (NASDAQ:HOMB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. Home Bancshares had a return on equity of 12.64% and a net margin of 36.19%. The firm had revenue of $164.05 million during the quarter, compared to analyst estimates of $166.83 million. During the same period in the prior year, the company posted $0.44 earnings per share. As a group, equities analysts predict that Home Bancshares will post 1.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.52 annualized dividend and a yield of 2.74%. Home Bancshares’s dividend payout ratio is presently 29.71%.

In other Home Bancshares news, COO John Stephen Tipton sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.51, for a total value of $157,335.00. Following the sale, the chief operating officer now owns 12,974 shares in the company, valued at approximately $240,148.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Russell Davis Carter III sold 7,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.94, for a total value of $142,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,719 shares of company stock valued at $1,219,031 in the last three months. 8.70% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of HOMB. Dimensional Fund Advisors LP raised its stake in Home Bancshares by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,929,353 shares of the financial services provider’s stock worth $64,206,000 after buying an additional 230,871 shares during the period. Geode Capital Management LLC raised its position in shares of Home Bancshares by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 1,859,740 shares of the financial services provider’s stock valued at $30,388,000 after purchasing an additional 147,014 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Home Bancshares by 16.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,925 shares of the financial services provider’s stock valued at $1,562,000 after acquiring an additional 12,453 shares in the last quarter. American International Group Inc. grew its stake in Home Bancshares by 15.3% during the first quarter. American International Group Inc. now owns 491,457 shares of the financial services provider’s stock valued at $8,635,000 after acquiring an additional 65,120 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in Home Bancshares during the first quarter valued at approximately $1,345,000. 65.75% 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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