Insider Selling: Home BancShares (NYSE:HOMB) CEO Sells 12,000 Shares

Key Points

  • CEO John Stephen Tipton sold 12,000 Home BancShares shares at an average price of $31.59, totaling $379,080 and reducing his direct ownership by 13.59%.
  • Home BancShares exceeded quarterly earnings and revenue expectations, reporting $0.64 EPS and $295.1 million in revenue, while revenue grew 8.9% year over year.
  • The company raised its quarterly dividend from $0.21 to $0.23 per share, implying an annualized yield of about 2.9%; analysts maintain an overall “Hold” rating with a $32.67 average price target.

Home BancShares, Inc. (NYSE:HOMB - Get Free Report) CEO John Stephen Tipton sold 12,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total value of $379,080.00. Following the transaction, the chief executive officer directly owned 76,308 shares in the company, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Home BancShares Stock Down 0.6%

Home BancShares stock opened at $31.23 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 12.90 and a beta of 0.69. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $31.70. The business has a fifty day moving average price of $28.89 and a 200-day moving average price of $28.06.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping 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 firm had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. During the same period in the previous year, the business earned $0.58 EPS. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts forecast that Home BancShares, Inc. will post 2.51 EPS 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 2.9%. Home BancShares's payout ratio is presently 34.71%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Root Financial Partners LLC boosted its stake in shares of Home BancShares by 76.9% in the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock worth $29,000 after buying an additional 474 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Home BancShares by 164.8% during the fourth 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 Home BancShares during the fourth quarter valued at approximately $36,000. Covestor Ltd raised its position in 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 acquiring an additional 697 shares in the last quarter. Finally, Binnacle Investments Inc lifted its holdings 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 valued at $38,000 after acquiring an additional 577 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HOMB has been the subject of several research analyst reports. Stephens increased their price objective on shares of Home BancShares from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Benchmark began coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They set a "hold" rating on the stock. Cantor Fitzgerald restated a "neutral" rating on shares of Home BancShares in a research note on Thursday, July 16th. Finally, Wall Street Zen raised shares of Home BancShares from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Home BancShares has an average rating of "Hold" and an average price target of $32.67.

Read Our Latest Analysis on Home BancShares

About Home BancShares

(Get Free Report)

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.

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