Principal Financial Group Inc. Cuts Position in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

Principal Financial Group Inc. decreased its holdings in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 31.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 431,166 shares of the financial services provider’s stock after selling 193,836 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Home Bancshares, Inc. (Conway, AR) worth $11,680,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HOMB. Cetera Advisors LLC purchased a new position in shares of Home Bancshares, Inc. (Conway, AR) during the 1st quarter valued at approximately $543,000. Harbor Capital Advisors Inc. lifted its holdings in Home Bancshares, Inc. (Conway, AR) by 292.5% during the second quarter. Harbor Capital Advisors Inc. now owns 32,274 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 24,052 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 15.0% in the first quarter. Bessemer Group Inc. now owns 44,216 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 5,780 shares during the period. SG Americas Securities LLC increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 426.7% during the second quarter. SG Americas Securities LLC now owns 51,289 shares of the financial services provider’s stock worth $1,229,000 after purchasing an additional 41,551 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Home Bancshares, Inc. (Conway, AR) by 10.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 315,379 shares of the financial services provider’s stock worth $8,544,000 after purchasing an additional 28,761 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) Trading Up 0.7 %

Shares of Home Bancshares, Inc. (Conway, AR) stock opened at $30.84 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $27.51 and its 200-day simple moving average is $26.00. The stock has a market cap of $6.13 billion, a P/E ratio of 15.90 and a beta of 1.05. Home Bancshares, Inc. has a 1-year low of $21.70 and a 1-year high of $31.33.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The company had revenue of $258.00 million for the quarter, compared to analyst estimates of $258.90 million. During the same period last year, the firm posted $0.47 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Home Bancshares, Inc. will post 2.04 EPS for the current fiscal year.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is currently 40.21%.

Insiders Place Their Bets

In other news, Director Jack Engelkes sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the transaction, the director now owns 199,195 shares of the company’s stock, valued at $5,999,753.40. This represents a 11.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer C. Floyd sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.18, for a total value of $60,360.00. Following the sale, the chief accounting officer now directly owns 3,468 shares of the company’s stock, valued at $104,664.24. The trade was a 36.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Sandler raised their target price on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Finally, Stephens raised their price objective on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.25.

Home Bancshares, Inc. (Conway, AR) Company 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.