Home BancShares, Inc. (NYSE:HOMB) Receives $33.00 Consensus Target Price from Brokerages

Home BancShares, Inc. (NYSE:HOMB) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $33.00.

HOMB has been the topic of several analyst reports. Stephens raised their price target on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $36.00 price target (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price target (up from $30.00) on shares of Home BancShares in a research note on Wednesday, August 19th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $32.00 price objective (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st.

Insider Activity

In other news, CEO John Tipton sold 12,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the sale, the chief executive officer owned 76,308 shares in the company, valued at $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.39% of the stock is owned by company insiders.

Institutional Trading of Home BancShares

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Home BancShares during the second quarter valued at about $735,643,000. California State Teachers Retirement System boosted its stake in shares of Home BancShares by 2,937.2% during the 2nd quarter. California State Teachers Retirement System now owns 6,272,092 shares of the financial services provider’s stock worth $179,068,000 after acquiring an additional 6,065,581 shares in the last quarter. Norges Bank acquired a new position in shares of Home BancShares during the 4th quarter valued at about $66,673,000. Azora Capital LP acquired a new position in shares of Home BancShares during the 2nd quarter valued at about $62,027,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Home BancShares in the 2nd quarter valued at approximately $44,068,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home BancShares Stock Up 0.7%

Home BancShares stock opened at $29.97 on Wednesday. The company has a 50-day simple moving average of $30.24 and a 200-day simple moving average of $28.26. The firm has a market capitalization of $5.99 billion, a P/E ratio of 12.38 and a beta of 0.67. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. Home BancShares has a one year low of $25.50 and a one year high of $31.70.

Home BancShares (NYSE:HOMB) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. As a group, equities analysts expect that Home BancShares will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were issued a dividend of $0.23 per share. The ex-dividend date was 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 3.1%. Home BancShares’s payout ratio is 38.02%.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Its principal subsidiary, Centennial Bank, provides community banking services to individuals, businesses and institutional customers.

Centennial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts, as well as commercial, residential mortgage, real estate, agricultural and consumer loans. The bank also provides treasury management, online and mobile banking, cash management and other financial services designed for business and retail customers.

Home BancShares was founded in 1998 and has grown through a combination of organic expansion and acquisitions.