Key Points
- Home BancShares Director John Allison II sold 13,500 shares for $405,810, reducing his stake by 2.08% to 636,495 shares.
- The company reported quarterly EPS of $0.65, slightly exceeding estimates, while revenue rose 3.9% year over year to $288.44 million but fell short of forecasts.
- Home BancShares declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a 3.1% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $32.57.
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Home BancShares, Inc. (NYSE:HOMB - Get Free Report) Director John Allison II sold 13,500 shares of the company's stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $30.06, for a total value of $405,810.00. Following the completion of the sale, the director owned 636,495 shares in the company, valued at approximately $19,133,039.70. This represents a 2.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Home BancShares Price Performance
Shares of NYSE:HOMB opened at $29.76 on Friday. Home BancShares, Inc. has a twelve month low of $25.50 and a twelve month high of $31.70. The company's 50 day moving average is $29.37 and its 200 day moving average is $28.55. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.95 billion, a PE ratio of 12.20 and a beta of 0.72.
Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.01. Home BancShares had a net margin of 32.36% and a return on equity of 11.14%. The company had revenue of $288.44 million during the quarter, compared to analyst estimates of $294.42 million. During the same period last year, the firm posted $0.61 EPS. Home BancShares's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts forecast that Home BancShares, Inc. will post 2.53 EPS for the current year.
Home BancShares Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. Home BancShares's dividend payout ratio is presently 37.70%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Home BancShares in the 2nd quarter worth approximately $735,643,000. Azora Capital LP purchased a new position in shares of Home BancShares during the 2nd quarter valued at approximately $62,027,000. Bank of New York Mellon Corp purchased a new position in shares of Home BancShares during the 2nd quarter valued at approximately $44,068,000. Bank of America Corp DE purchased a new position in shares of Home BancShares during the 2nd quarter valued at approximately $18,242,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Home BancShares by 9.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,491 shares of the financial services provider's stock valued at $180,979,000 after purchasing an additional 559,603 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
HOMB has been the subject of several recent research reports. Stephens raised their target price on shares of Home BancShares from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $34.00 price target (down from $36.00) on shares of Home BancShares in a report on Friday, October 16th. UBS Group reaffirmed a "buy" rating on shares of Home BancShares in a report on Friday, October 16th. Keefe, Bruyette & Woods increased their price target on Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $32.57.
Get Our Latest Analysis on Home BancShares
About Home BancShares
(
Get Free Report)
Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal subsidiary, Centennial Bank, the company provides banking services to businesses, individuals and institutions, including commercial and consumer lending, residential and commercial real estate loans, deposit accounts, cash management and online banking services.
Centennial Bank serves customers through a network of financial centers and digital banking channels in markets across Arkansas, Florida, Alabama and Texas.
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