BlackRock Inc. Sells 667,327 Shares of Home Bancshares Inc (HOMB)
BlackRock Inc. decreased its position in Home Bancshares Inc (NASDAQ:HOMB) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,915,592 shares of the financial services provider’s stock after selling 667,327 shares during the quarter. BlackRock Inc. owned approximately 0.10% of Home Bancshares worth $393,288,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. raised its stake in shares of Home Bancshares by 144.7% in the third quarter. Sei Investments Co. now owns 7,039 shares of the financial services provider’s stock worth $177,000 after buying an additional 4,163 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Home Bancshares by 43.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock worth $181,000 after buying an additional 2,354 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Home Bancshares in the third quarter worth about $201,000. World Asset Management Inc bought a new position in shares of Home Bancshares in the third quarter worth about $255,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Home Bancshares by 71.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,301 shares of the financial services provider’s stock worth $260,000 after buying an additional 4,283 shares during the period. 60.57% of the stock is currently owned by institutional investors.
Home Bancshares Inc (HOMB) opened at $24.18 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.03 and a quick ratio of 1.01. Home Bancshares Inc has a 12 month low of $20.82 and a 12 month high of $29.69. The company has a market capitalization of $4,202.12, a PE ratio of 26.57 and a beta of 1.15.
Home Bancshares announced that its board has initiated a stock repurchase program on Thursday, February 22nd that allows the company to buyback 5,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Wednesday, February 14th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, February 13th. Home Bancshares’s dividend payout ratio is currently 48.35%.
HOMB has been the topic of several recent research reports. Zacks Investment Research raised Home Bancshares from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Home Bancshares in a research note on Friday, December 22nd. BidaskClub raised Home Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Home Bancshares in a research note on Tuesday, January 9th. Finally, Sandler O’Neill set a $26.00 price objective on Home Bancshares and gave the stock a “hold” rating in a research note on Thursday, January 4th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $27.79.
Home Bancshares Company Profile
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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