Hovde Group Upgrades Home BancShares (NYSE:HOMB) to "Strong-Buy"

Home BancShares (NYSE:HOMB - Get Free Report) was upgraded by investment analysts at Hovde Group to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $36.00 target price (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of Home BancShares in a research report on Wednesday, August 19th. Stephens increased their price target on shares of Home BancShares from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Benchmark began coverage on shares of Home BancShares in a report on Wednesday, June 24th. They issued a "hold" rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Home BancShares currently has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Home BancShares Price Performance

Shares of Home BancShares stock opened at $29.80 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $5.96 billion, a PE ratio of 12.31 and a beta of 0.67. The business has a 50 day moving average of $30.18 and a 200 day moving average of $28.24. Home BancShares has a 52 week low of $25.50 and a 52 week high of $31.70.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $295.10 million for the quarter, compared to analysts' expectations of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, equities research analysts forecast that Home BancShares will post 2.51 earnings per share for the current year.

Insider Activity

In related news, CEO John Tipton sold 12,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the transaction, the chief executive officer directly owned 76,308 shares in the company, valued at $2,410,569.72. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Home BancShares

Several hedge funds have recently bought and sold shares of HOMB. Root Financial Partners LLC increased its stake in shares of Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Home BancShares by 164.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock worth $30,000 after purchasing an additional 674 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Home BancShares in the 4th quarter worth approximately $36,000. Covestor Ltd grew its stake in shares of Home BancShares by 110.6% in the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider's stock worth $37,000 after buying an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc grew its stake in shares of Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock worth $38,000 after buying an additional 577 shares during the last quarter. Institutional investors own 67.31% of the company's stock.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company's core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.

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