Home BancShares (NYSE:HOMB) Stock Rating Lowered by Zacks Research

Home BancShares (NYSE:HOMB) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on HOMB. Royal Bank Of Canada set a $31.00 price objective on shares of Home BancShares in a report on Monday, January 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Home BancShares in a research report on Monday, December 29th. Cantor Fitzgerald dropped their price target on shares of Home BancShares from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $35.00 price objective (up from $34.00) on shares of Home BancShares in a research note on Friday, January 16th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.40.

Home BancShares Stock Down 1.6%

Home BancShares stock opened at $26.00 on Monday. Home BancShares has a one year low of $24.22 and a one year high of $30.83. The stock has a fifty day moving average of $28.48 and a 200 day moving average of $28.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $5.11 billion, a PE ratio of 10.79 and a beta of 0.78.

Home BancShares (NYSE:HOMB) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $269.25 million for the quarter, compared to analysts’ expectations of $272.48 million. Home BancShares had a return on equity of 11.16% and a net margin of 32.18%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. As a group, sell-side analysts predict that Home BancShares will post 2.19 EPS for the current year.

Insider Activity at Home BancShares

In other news, Director Donna Townsell sold 5,563 shares of the stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $28.38, for a total value of $157,877.94. Following the completion of the sale, the director directly owned 218,460 shares of the company’s stock, valued at $6,199,894.80. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Allison II sold 5,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $28.19, for a total transaction of $140,950.00. Following the sale, the director owned 651,995 shares in the company, valued at $18,379,739.05. The trade was a 0.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Home BancShares

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Home BancShares by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock worth $567,372,000 after purchasing an additional 621,751 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Home BancShares by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,160,888 shares of the financial services provider’s stock worth $171,152,000 after purchasing an additional 203,392 shares in the last quarter. Capital Research Global Investors boosted its stake in Home BancShares by 4.5% in the 4th quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider’s stock worth $155,242,000 after purchasing an additional 238,548 shares during the period. American Century Companies Inc. grew its holdings in Home BancShares by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider’s stock valued at $138,772,000 after buying an additional 626,655 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Home BancShares by 0.6% during the second quarter. Geode Capital Management LLC now owns 4,572,656 shares of the financial services provider’s stock valued at $130,151,000 after buying an additional 26,511 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Company Profile

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.