Hovde Group Cuts Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Price Target to $35.00

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) had its price target reduced by Hovde Group from $36.00 to $35.00 in a research note published on Friday, MarketBeat reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Stephens reiterated an “overweight” rating and issued a $34.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday. Piper Sandler lifted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Home Bancshares, Inc. (Conway, AR) presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Home Bancshares, Inc. (Conway, AR) Stock Up 3.4 %

Home Bancshares, Inc. (Conway, AR) stock opened at $30.43 on Friday. The firm has a 50 day moving average price of $29.78 and a two-hundred day moving average price of $27.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.91 and a current ratio of 0.91. Home Bancshares, Inc. has a 52-week low of $22.38 and a 52-week high of $32.90. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 15.69 and a beta of 1.10.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its earnings results on Wednesday, January 15th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Home Bancshares, Inc. (Conway, AR) had a net margin of 26.69% and a return on equity of 10.33%. The firm had revenue of $258.40 million during the quarter, compared to analyst estimates of $256.67 million. During the same quarter in the previous year, the firm earned $0.43 EPS. Home Bancshares, Inc. (Conway, AR)’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts predict that Home Bancshares, Inc. will post 2.03 EPS for the current year.

Home Bancshares, Inc. (Conway, AR) Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.78 annualized dividend and a yield of 2.56%. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 38.61%.

Insider Activity

In related news, Director James Pat Hickman sold 63,997 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $30.77, for a total value of $1,969,187.69. Following the completion of the sale, the director now directly owns 175,500 shares of the company’s stock, valued at approximately $5,400,135. This represents a 26.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer C. Floyd sold 2,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.18, for a total transaction of $60,360.00. Following the transaction, the chief accounting officer now directly owns 3,468 shares in the company, valued at $104,664.24. This represents a 36.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,997 shares of company stock worth $2,782,548 over the last three months. 7.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HOMB. Harbor Capital Advisors Inc. lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 0.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 69,914 shares of the financial services provider’s stock valued at $1,979,000 after buying an additional 374 shares during the last quarter. GAMMA Investing LLC raised its stake in Home Bancshares, Inc. (Conway, AR) by 49.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 427 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Home Bancshares, Inc. (Conway, AR) by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 85,865 shares of the financial services provider’s stock valued at $2,326,000 after purchasing an additional 481 shares during the last quarter. Blue Trust Inc. boosted its position in Home Bancshares, Inc. (Conway, AR) by 41.6% during the third quarter. Blue Trust Inc. now owns 1,797 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 528 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 3.6% in the third quarter. Inspire Investing LLC now owns 15,243 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 529 shares in the last quarter. 67.31% of the stock is owned by institutional investors.

About Home Bancshares, Inc. (Conway, AR)

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.