State of New Jersey Common Pension Fund D Trims Stake in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

State of New Jersey Common Pension Fund D lessened its position in shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 32.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,472 shares of the financial services provider’s stock after selling 38,526 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $1,928,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 189.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,034 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 677 shares during the last quarter. Norges Bank acquired a new stake in Home Bancshares, Inc. (Conway, AR) during the 4th quarter worth $54,498,000. UBS Group AG grew its position in Home Bancshares, Inc. (Conway, AR) by 56.5% during the 4th quarter. UBS Group AG now owns 285,043 shares of the financial services provider’s stock worth $7,220,000 after purchasing an additional 102,907 shares during the last quarter. United Services Automobile Association increased its stake in Home Bancshares, Inc. (Conway, AR) by 15.7% in the fourth quarter. United Services Automobile Association now owns 14,073 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 1,910 shares during the period. Finally, Meridian Management Co. purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) Stock Performance

Shares of HOMB stock opened at $27.43 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $27.04 and a 200-day simple moving average of $24.91. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 14.14 and a beta of 1.05. Home Bancshares, Inc. has a 12-month low of $19.61 and a 12-month high of $28.99.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. Home Bancshares, Inc. (Conway, AR)’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, equities analysts forecast that Home Bancshares, Inc. will post 2.07 EPS for the current year.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th were paid a $0.195 dividend. This is a boost from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.78 annualized dividend and a dividend yield of 2.84%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is 40.21%.

Insider Buying and Selling

In related news, insider Kevin Hester sold 25,263 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $27.00, for a total value of $682,101.00. Following the sale, the insider now owns 114,912 shares in the company, valued at approximately $3,102,624. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Home Bancshares, Inc. (Conway, AR) news, CFO Brian Davis sold 15,391 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $26.89, for a total transaction of $413,863.99. Following the completion of the transaction, the chief financial officer now directly owns 89,192 shares in the company, valued at approximately $2,398,372.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin Hester sold 25,263 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $27.00, for a total transaction of $682,101.00. Following the completion of the sale, the insider now directly owns 114,912 shares in the company, valued at approximately $3,102,624. The disclosure for this sale can be found here. 7.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HOMB. Stephens reissued an “overweight” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday, July 18th. StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Piper Sandler upped their price target on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada lifted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.25.

Home Bancshares, Inc. (Conway, AR) Profile

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.