Home BancShares, Inc. (NYSE:HOMB) Receives $32.67 Consensus Price Target from Analysts

Home BancShares, Inc. (NYSE:HOMB) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.6667.

Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a report on Thursday, July 16th. Weiss Ratings raised shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their target price on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Benchmark assumed coverage on Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating for the company. Finally, Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a research note on Sunday.

Home BancShares Price Performance

NYSE:HOMB opened at $31.14 on Friday. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 12.87 and a beta of 0.69. Home BancShares has a 1 year low of $25.50 and a 1 year high of $31.70. The business has a 50 day simple moving average of $29.58 and a 200-day simple moving average of $28.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

Home BancShares (NYSE:HOMB) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate 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%.Home BancShares’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. Equities analysts forecast that Home BancShares will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

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

Insider Activity

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the business’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 owned 76,308 shares of the company’s stock, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HOMB. Formula Growth Ltd. purchased a new position in Home BancShares during the second quarter worth about $1,482,000. Public Employees Retirement System of Ohio acquired a new position in Home BancShares in the 2nd quarter valued at about $74,000. Corient Private Wealth LP purchased a new stake in shares of Home BancShares in the 2nd quarter valued at approximately $680,000. Azora Capital LP purchased a new stake in shares of Home BancShares in the 2nd quarter valued at approximately $62,027,000. Finally, Bank of America Corp DE acquired a new stake in shares of Home BancShares during the 2nd quarter worth approximately $18,242,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

About Home BancShares

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.