Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) announced its quarterly earnings data on Thursday. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03, Briefing.com reports. The business had revenue of $246.40 million during the quarter, compared to the consensus estimate of $240.46 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.52% and a net margin of 28.17%. Home Bancshares, Inc. (Conway, AR)’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 EPS.

Home Bancshares, Inc. (Conway, AR) Trading Up 3.4 %

Shares of HOMB stock opened at $24.00 on Friday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 12.37 and a beta of 1.11. The stock has a 50-day moving average of $23.56 and a 200-day moving average of $23.14. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.46. Home Bancshares, Inc. has a 1-year low of $19.61 and a 1-year high of $25.80.

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Wednesday, February 14th were paid a $0.18 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.00%. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 37.11%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HOMB. Piper Sandler increased their target price on Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Stephens increased their target price on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Home Bancshares, Inc. (Conway, AR) has an average rating of “Hold” and a consensus target price of $26.00.

Insider Buying and Selling

In related news, Director Donna Townsell sold 22,729 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $23.76, for a total transaction of $540,041.04. Following the completion of the sale, the director now owns 215,854 shares of the company’s stock, valued at $5,128,691.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO John W. Allison acquired 20,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction on Monday, February 5th. The stock was purchased at an average price of $22.74 per share, with a total value of $454,800.00. Following the completion of the purchase, the chief executive officer now owns 5,509,982 shares of the company’s stock, valued at approximately $125,296,990.68. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donna Townsell sold 22,729 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $23.76, for a total value of $540,041.04. Following the completion of the sale, the director now directly owns 215,854 shares of the company’s stock, valued at approximately $5,128,691.04. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of hedge funds have recently added to or reduced their stakes in HOMB. Norges Bank acquired a new stake in Home Bancshares, Inc. (Conway, AR) in the fourth quarter valued at approximately $34,256,000. State Street Corp lifted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 15.3% in the second quarter. State Street Corp now owns 8,272,790 shares of the financial services provider’s stock valued at $171,826,000 after purchasing an additional 1,100,758 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 1.2% in the third quarter. Vanguard Group Inc. now owns 20,900,440 shares of the financial services provider’s stock valued at $470,469,000 after purchasing an additional 252,844 shares in the last quarter. Barclays PLC lifted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 71.9% in the fourth quarter. Barclays PLC now owns 583,007 shares of the financial services provider’s stock valued at $14,767,000 after purchasing an additional 243,949 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 23.7% in the fourth quarter. Morgan Stanley now owns 1,203,160 shares of the financial services provider’s stock valued at $27,420,000 after purchasing an additional 230,792 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

About Home Bancshares, Inc. (Conway, AR)

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, and money market accounts, as well as certificates of deposit.