Home BancShares (NYSE:HOMB) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Home BancShares (NYSE:HOMB) issued its earnings results on Wednesday. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01, FiscalAI reports. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%. The business had revenue of $288.44 million during the quarter, compared to the consensus estimate of $294.42 million. During the same period last year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis.

Home BancShares Price Performance

Home BancShares stock opened at $28.30 on Thursday. The firm has a market capitalization of $5.66 billion, a PE ratio of 11.58 and a beta of 0.72. Home BancShares has a 52 week low of $25.50 and a 52 week high of $31.70. The firm’s 50-day simple moving average is $29.65 and its 200 day simple moving average is $28.56. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16.

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.3%. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, August 12th. Home BancShares’s dividend payout ratio is currently 38.02%.

Analyst Upgrades and Downgrades

HOMB has been the topic of a number of research reports. Hovde Group assumed coverage on shares of Home BancShares in a report on Tuesday, September 8th. They set an “outperform” rating and a $34.00 target price on the stock. Weiss Ratings upgraded Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Piper Sandler restated an “overweight” rating and set a $36.00 target price (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Finally, Citigroup restated 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. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Home BancShares presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Insiders Place Their Bets

In related news, CEO John Tipton sold 12,000 shares of Home BancShares stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the completion of the sale, the chief executive officer owned 76,308 shares in the company, valued at approximately $2,410,569.72. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.39% of the company’s stock.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.