Home BancShares (NYSE:HOMB) Price Target Cut to $31.00 by Analysts at Citigroup

Key Points

• Citigroup lowered Home BancShares’ price target to $31 from $32 while maintaining a neutral rating, implying 6.47% upside from the prior close.
• Analyst sentiment remains moderately positive: the stock has a consensus “Moderate Buy” rating and an average price target of $32.57, with targets ranging from $31 to $35.
• Home BancShares reported quarterly EPS of $0.65, slightly exceeding estimates, while revenue rose 3.9% year over year to $288.44 million but fell short of consensus expectations.

Home BancShares (NYSE:HOMB - Get Free Report) had its price target reduced by stock analysts at Citigroup from $32.00 to $31.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Citigroup's price objective indicates a potential upside of 6.47% from the company's previous close.

A number of other brokerages have also commented on HOMB. Keefe, Bruyette & Woods increased their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Home BancShares in a report on Thursday. Hovde Group began coverage on shares of Home BancShares in a report on Tuesday, September 8th. They set an "outperform" rating and a $34.00 price objective for the company. Stephens upped their target price on shares of Home BancShares from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Finally, Benchmark assumed coverage on Home BancShares in a research note on Wednesday, June 24th. They issued a "hold" rating on the stock. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Home BancShares presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.57.

Home BancShares Price Performance

Shares of NYSE HOMB traded down $0.08 during midday trading on Monday, hitting $29.12. 2,658,450 shares of the company's stock were exchanged, compared to its average volume of 1,592,771. Home BancShares has a 12-month low of $25.50 and a 12-month high of $31.70. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 11.93 and a beta of 0.72. The business's fifty day moving average price is $29.58 and its two-hundred day moving average price is $28.60.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.01. Home BancShares had a net margin of 32.36% and a return on equity of 11.14%. The business had revenue of $288.44 million for the quarter, compared to the consensus estimate of $294.42 million. During the same period last year, the firm posted $0.61 earnings per share. Home BancShares's quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Home BancShares will post 2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Home BancShares news, CEO John Tipton sold 12,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the sale, the chief executive officer owned 76,308 shares of the company's stock, valued at $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Root Financial Partners LLC increased its stake in shares of Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock worth $29,000 after acquiring an additional 474 shares in the last quarter. IFP Advisors Inc boosted its stake in Home BancShares by 490.4% during the third quarter. IFP Advisors Inc now owns 1,293 shares of the financial services provider's stock worth $36,000 after acquiring an additional 1,074 shares in the last quarter. Trust Co. of Vermont bought a new stake in Home BancShares during the second quarter worth about $41,000. Ancora Advisors LLC purchased a new stake in Home BancShares in the second quarter worth about $45,000. Finally, Versant Capital Management Inc grew its holdings in Home BancShares by 153.3% in the second quarter. Versant Capital Management Inc now owns 1,857 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,124 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.

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