Zacks Investment Research Downgrades Home BancShares, Inc. (HOMB) to Sell
Home BancShares, Inc. (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
Other analysts also recently issued reports about the company. ValuEngine raised Home BancShares from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 target price on shares of Home BancShares in a report on Friday, July 21st. Piper Jaffray Companies reissued a “hold” rating and issued a $27.00 target price on shares of Home BancShares in a report on Friday, July 21st. Stephens reissued an “overweight” rating and issued a $28.00 target price (down from $29.00) on shares of Home BancShares in a report on Tuesday, September 12th. Finally, BidaskClub raised Home BancShares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.58.
Home BancShares (NASDAQ HOMB) opened at 23.51 on Wednesday. The stock has a 50 day moving average price of $23.50 and a 200 day moving average price of $24.94. Home BancShares has a 52 week low of $19.74 and a 52 week high of $29.69. The stock has a market capitalization of $3.36 billion, a PE ratio of 17.58 and a beta of 1.19.
Home BancShares (NASDAQ:HOMB) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Home BancShares had a return on equity of 13.77% and a net margin of 33.97%. The business had revenue of $131.77 million during the quarter, compared to the consensus estimate of $132.18 million. During the same period in the previous year, the business earned $0.31 EPS. Equities analysts forecast that Home BancShares will post $1.39 EPS for the current year.
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In related news, Chairman John W. Allison acquired 15,000 shares of Home BancShares stock in a transaction on Wednesday, July 26th. The stock was purchased at an average cost of $25.46 per share, with a total value of $381,900.00. Following the purchase, the chairman now directly owns 4,968,396 shares in the company, valued at $126,495,362.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracy French acquired 3,100 shares of Home BancShares stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $23.54 per share, with a total value of $72,974.00. Following the completion of the purchase, the insider now owns 102,268 shares in the company, valued at $2,407,388.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 33,100 shares of company stock valued at $825,074. 11.27% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund purchased a new stake in Home BancShares during the 2nd quarter valued at approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Home BancShares by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,812 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 379 shares during the last quarter. Advisor Group Inc. raised its stake in Home BancShares by 11.7% during the 2nd quarter. Advisor Group Inc. now owns 5,288 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 554 shares during the last quarter. LS Investment Advisors LLC raised its stake in Home BancShares by 58.7% during the 1st quarter. LS Investment Advisors LLC now owns 7,367 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 2,725 shares during the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in Home BancShares during the 1st quarter valued at approximately $204,000. 60.58% of the stock is owned by hedge funds and other institutional investors.
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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