First National Bank of Omaha Makes New Investment in Home BancShares, Inc. $HOMB

First National Bank of Omaha acquired a new stake in Home BancShares, Inc. (NYSE:HOMB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 205,877 shares of the financial services provider’s stock, valued at approximately $5,913,000. First National Bank of Omaha owned approximately 0.10% of Home BancShares as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in Home BancShares during the second quarter worth $735,643,000. Norges Bank bought a new position in shares of Home BancShares during the 4th quarter worth about $66,673,000. Bank of New York Mellon Corp acquired a new stake in shares of Home BancShares in the 2nd quarter valued at about $44,068,000. First Trust Advisors LP grew its stake in shares of Home BancShares by 37.3% in the 4th quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock valued at $85,031,000 after buying an additional 830,823 shares during the period. Finally, Vanguard Group Inc. increased its position in Home BancShares by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock valued at $567,372,000 after buying an additional 621,751 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.

Home BancShares Stock Performance

Shares of HOMB opened at $30.99 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $29.65 and a two-hundred day moving average price of $28.21. The firm has a market capitalization of $6.20 billion, a P/E ratio of 12.81 and a beta of 0.69. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $31.70.

Home BancShares (NYSE:HOMB) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $295.10 million for the quarter, compared to analyst estimates of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. Equities analysts forecast that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s payout ratio is currently 38.02%.

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction 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. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HOMB. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a research report on Sunday. Benchmark initiated coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They issued a “hold” rating for the company. Citigroup restated a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Finally, Stephens upped their price objective 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. Three 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.com, the company has an average rating of “Hold” and a consensus target price of $32.67.

Home BancShares Profile

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.