Zacks: Analysts Expect Home BancShares, Inc. (HOMB) Will Post Quarterly Sales of $133.45 Million
Wall Street analysts expect that Home BancShares, Inc. (NASDAQ:HOMB) will report sales of $133.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Home BancShares’ earnings, with the highest sales estimate coming in at $134.20 million and the lowest estimate coming in at $132.70 million. Home BancShares reported sales of $125.67 million in the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, October 19th.
According to Zacks, analysts expect that Home BancShares will report full year sales of $133.45 million for the current year, with estimates ranging from $562.50 million to $565.90 million. For the next financial year, analysts expect that the business will post sales of $710.40 million per share, with estimates ranging from $706.80 million to $714.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Home BancShares.
Home BancShares (NASDAQ:HOMB) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $131.77 million during the quarter, compared to analysts’ expectations of $132.18 million. Home BancShares had a return on equity of 13.77% and a net margin of 33.97%. During the same quarter in the prior year, the business earned $0.31 earnings per share.
A number of analysts have commented on the company. Zacks Investment Research cut Home BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine cut Home BancShares from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Stephens reaffirmed an “overweight” rating and set a $28.00 price target (down previously from $29.00) on shares of Home BancShares in a research report on Tuesday, September 12th. BidaskClub cut Home BancShares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $27.00 price objective on shares of Home BancShares in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.58.
In related news, insider Tracy French acquired 3,100 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $23.54 per share, with a total value of $72,974.00. Following the acquisition, the insider now directly owns 102,268 shares in the company, valued at approximately $2,407,388.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman John W. Allison acquired 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was bought at an average cost of $25.46 per share, with a total value of $381,900.00. Following the acquisition, the chairman now owns 4,968,396 shares in the company, valued at $126,495,362.16. The disclosure for this purchase can be found here. In the last three months, insiders bought 33,100 shares of company stock valued at $825,074. Insiders own 11.27% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund purchased a new position in shares of Home BancShares in the 2nd quarter valued at about $119,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Home BancShares by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,812 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 379 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Home BancShares by 11.7% in the 2nd quarter. Advisor Group Inc. now owns 5,288 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 554 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Home BancShares by 58.7% in the 1st quarter. LS Investment Advisors LLC now owns 7,367 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 2,725 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Home BancShares in the 1st quarter valued at about $204,000. Hedge funds and other institutional investors own 60.58% of the company’s stock.
Home BancShares (HOMB) traded down 0.21% during mid-day trading on Tuesday, reaching $23.46. The company had a trading volume of 556,312 shares. The firm has a market capitalization of $3.36 billion, a PE ratio of 17.55 and a beta of 1.19. The stock’s 50-day moving average price is $23.50 and its 200 day moving average price is $24.94. Home BancShares has a 52 week low of $19.74 and a 52 week high of $29.69.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, August 14th. This is a boost from Home BancShares’s previous quarterly dividend of $0.09. Home BancShares’s payout ratio is 32.84%.
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About Home BancShares
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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