Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Reaches New 1-Year High – Here’s What Happened

Shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $31.42 and last traded at $31.41, with a volume of 92247 shares trading hands. The stock had previously closed at $30.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HOMB. Piper Sandler boosted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Stephens boosted their price target on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.25.

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

The business has a 50-day moving average price of $27.93 and a 200-day moving average price of $26.21. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 16.33 and a beta of 1.05.

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

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

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders 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 2.46%. The ex-dividend date of this dividend is Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is presently 40.21%.

Insider Buying and Selling at Home Bancshares, Inc. (Conway, AR)

In other news, Director James Pat Hickman sold 63,997 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $30.77, for a total value of $1,969,187.69. Following the sale, the director now owns 175,500 shares in the company, valued at $5,400,135. This represents a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack Engelkes sold 25,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the sale, the director now directly owns 199,195 shares in the company, valued at $5,999,753.40. This represents a 11.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,997 shares of company stock worth $2,782,548. 7.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its position in Home Bancshares, Inc. (Conway, AR) by 5.4% during the third quarter. Sunbelt Securities Inc. now owns 10,854 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 554 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Home Bancshares, Inc. (Conway, AR) by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,144 shares of the financial services provider’s stock worth $120,983,000 after buying an additional 60,588 shares during the period. Barclays PLC raised its stake in shares of Home Bancshares, Inc. (Conway, AR) by 65.2% during the 3rd quarter. Barclays PLC now owns 422,952 shares of the financial services provider’s stock worth $11,458,000 after buying an additional 166,927 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 519.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,996 shares of the financial services provider’s stock valued at $190,000 after buying an additional 5,867 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its stake in Home Bancshares, Inc. (Conway, AR) by 6.2% in the 3rd quarter. Hodges Capital Management Inc. now owns 250,300 shares of the financial services provider’s stock valued at $6,781,000 after acquiring an additional 14,600 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

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.