Home BancShares (NYSE:HOMB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Home BancShares (NYSE:HOMB) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts have also weighed in on the stock. Benchmark initiated coverage on shares of Home BancShares in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a research report on Thursday, July 16th. Stephens increased their price objective on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $36.00 target price (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Home BancShares presently has an average rating of “Hold” and an average price target of $32.67.

Home BancShares Stock Performance

NYSE HOMB opened at $30.99 on Friday. The stock has a market capitalization of $6.24 billion, a PE ratio of 12.80 and a beta of 0.68. The business has a 50 day simple moving average of $28.23 and a two-hundred day simple moving average of $27.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. Home BancShares has a 1-year low of $25.50 and a 1-year high of $31.34.

Home BancShares (NYSE:HOMB) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) 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 the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS. On average, research analysts predict that Home BancShares will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s dividend payout ratio is presently 34.71%.

Institutional Trading of Home BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Home BancShares by 3.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider’s stock worth $12,453,000 after buying an additional 15,259 shares during the period. Jane Street Group LLC raised its stake in shares of Home BancShares by 82.7% in the first quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider’s stock valued at $7,826,000 after acquiring an additional 125,301 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Home BancShares by 13.2% in the 2nd quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider’s stock worth $612,000 after acquiring an additional 2,500 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Home BancShares in the 2nd quarter worth about $1,015,000. Finally, Jump Financial LLC purchased a new position in shares of Home BancShares during the 2nd quarter worth about $230,000. 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.