Home BancShares (NYSE:HOMB) Stock Rating Lowered by Wall Street Zen

Home BancShares (NYSE:HOMB) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other research analysts also recently issued reports on HOMB. Piper Sandler restated an “overweight” rating and set a $36.00 price target (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Stephens increased their price objective on Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a research report on Thursday, July 16th. Benchmark initiated coverage on Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Finally, Weiss Ratings upgraded Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.67.

Home BancShares Price Performance

Shares of Home BancShares stock opened at $30.81 on Friday. The firm has a market cap of $6.21 billion, a PE ratio of 12.73 and a beta of 0.69. Home BancShares has a 12-month low of $25.50 and a 12-month high of $31.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $29.05 and its two-hundred day simple moving average is $28.09.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, equities analysts expect that Home BancShares will post 2.51 EPS for the current year.

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,410,569.72. This represents a 13.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. First National Bank of Omaha purchased a new position in shares of Home BancShares in the 2nd quarter valued at approximately $5,913,000. BlackRock Inc. bought a new position in Home BancShares in the second quarter worth $735,643,000. Pallas Capital Advisors LLC bought a new position in Home BancShares in the second quarter worth $316,000. Deutsche Bank AG purchased a new position in Home BancShares during the second quarter valued at $5,629,000. Finally, Trust Co. of Vermont purchased a new position in Home BancShares during the second quarter valued at $41,000. 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.