Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Gap Down After Earnings Miss

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $29.11, but opened at $28.20. Home Bancshares, Inc. (Conway, AR) shares last traded at $28.99, with a volume of 249,042 shares traded.

The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis.

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

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 40.21%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Friday, October 18th. Piper Sandler increased 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. StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Stephens reaffirmed an “overweight” rating and set a $34.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Bancshares, Inc. (Conway, AR) has a consensus rating of “Hold” and a consensus target price of $31.25.

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

In other Home Bancshares, Inc. (Conway, AR) news, Director Jack Engelkes sold 25,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 199,195 shares of the company’s stock, valued at approximately $5,999,753.40. This trade represents a 11.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Pat Hickman sold 63,997 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 175,500 shares of the company’s stock, valued at approximately $5,400,135. The trade was a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,997 shares of company stock valued at $2,782,548. Corporate insiders own 7.66% of the company’s stock.

Hedge Funds Weigh In On Home Bancshares, Inc. (Conway, AR)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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. LMR Partners LLP purchased a new stake in Home Bancshares, Inc. (Conway, AR) during the 3rd quarter worth approximately $493,000. Citigroup Inc. raised its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 12.2% during the third quarter. Citigroup Inc. now owns 289,079 shares of the financial services provider’s stock valued at $7,831,000 after acquiring an additional 31,493 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 277.2% in the third quarter. Point72 Asset Management L.P. now owns 23,900 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 17,563 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 38.2% in the second quarter. Creative Planning now owns 601,926 shares of the financial services provider’s stock valued at $14,422,000 after acquiring an additional 166,324 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

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

The stock has a 50 day moving average price of $29.77 and a 200-day moving average price of $27.79. 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 has a market capitalization of $5.86 billion, a price-to-earnings ratio of 15.20 and a beta of 1.10.

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.