Home BancShares, Inc. (HOMB) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Home BancShares, Inc. (NASDAQ:HOMB) from a buy rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
Other research analysts have also issued reports about the stock. BidaskClub raised shares of Home BancShares from a strong sell rating to a sell rating in a research note on Saturday, June 10th. Piper Jaffray Companies reaffirmed a hold rating and issued a $27.00 price objective on shares of Home BancShares in a research note on Friday, July 21st. 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, July 21st. ValuEngine raised shares of Home BancShares from a hold rating to a buy rating in a research note on Friday, July 7th. Finally, Merion Capital Group reaffirmed a neutral rating and issued a $28.50 price objective on shares of Home BancShares in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $28.70.
Shares of Home BancShares (HOMB) opened at 24.77 on Wednesday. Home BancShares has a 52 week low of $19.74 and a 52 week high of $29.69. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 18.55 and a beta of 1.19. The firm has a 50-day moving average of $24.93 and a 200 day moving average of $25.95.
Home BancShares (NASDAQ:HOMB) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Home BancShares had a net margin of 33.97% and a return on equity of 13.77%. The firm had revenue of $131.77 million for the quarter, compared to analyst estimates of $132.18 million. During the same period last year, the firm earned $0.31 earnings per share. On average, equities analysts predict that Home BancShares will post $1.38 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be issued a $0.11 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.78%. This is an increase from Home BancShares’s previous quarterly dividend of $0.09. Home BancShares’s dividend payout ratio is currently 26.87%.
In other news, insider Jim F. Haynes, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $25.50, for a total value of $38,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tracy French bought 2,300 shares of the stock in a transaction dated Friday, May 12th. The stock was purchased at an average price of $23.79 per share, with a total value of $54,717.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 32,300 shares of company stock valued at $806,817. 11.27% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in HOMB. BlackRock Inc. increased its stake in shares of Home BancShares by 37,629.8% in the first quarter. BlackRock Inc. now owns 16,430,592 shares of the financial services provider’s stock valued at $444,776,000 after buying an additional 16,387,044 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Home BancShares by 9.6% in the first quarter. Vanguard Group Inc. now owns 11,113,886 shares of the financial services provider’s stock valued at $300,852,000 after buying an additional 973,217 shares in the last quarter. FMR LLC purchased a new stake in shares of Home BancShares during the fourth quarter valued at approximately $25,987,000. Norges Bank purchased a new stake in shares of Home BancShares during the fourth quarter valued at approximately $25,941,000. Finally, State Street Corp increased its stake in shares of Home BancShares by 4.9% in the first quarter. State Street Corp now owns 4,520,817 shares of the financial services provider’s stock valued at $122,383,000 after buying an additional 212,972 shares in the last quarter. Institutional investors own 60.23% of the company’s stock.
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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