Home BancShares, Inc. (NYSE:HOMB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Home BancShares received a “Moderate Buy” consensus rating from nine analysts, with five buys and four holds. The average 12-month price target is $33.00, compared with the stock’s reported price of $28.66.
• The company exceeded quarterly expectations, reporting $0.64 EPS versus the $0.62 consensus estimate and revenue of $295.1 million, up 8.9% year over year.
• Home BancShares increased its quarterly dividend to $0.23 per share, or $0.92 annualized, representing a 3.2% yield; institutional investors own 67.31% of the company.

Home BancShares, Inc. (NYSE:HOMB - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $33.00.

A number of brokerages have weighed in on HOMB. Piper Sandler restated 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. Keefe, Bruyette & Woods upped 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. Weiss Ratings upgraded Home BancShares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Benchmark initiated coverage on Home BancShares in a report on Wednesday, June 24th. They set a "hold" rating on the stock. Finally, Hovde Group began coverage on Home BancShares in a report on Tuesday, September 8th. They set an "outperform" rating and a $34.00 price objective on the stock.

Insider Activity at Home BancShares

In other news, CEO John Tipton sold 12,000 shares of Home BancShares stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the sale, the chief executive officer directly owned 76,308 shares of the company's stock, valued at approximately $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.39% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in Home BancShares by 126.7% in the 3rd quarter. Versant Capital Management Inc now owns 4,209 shares of the financial services provider's stock valued at $119,000 after buying an additional 2,352 shares during the last quarter. Cim Investment Management Inc. increased its position in Home BancShares by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 12,889 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 890 shares during the period. Tidal Investments LLC bought a new position in shares of Home BancShares during the second quarter valued at $466,000. Integrated Wealth Concepts LLC bought a new position in shares of Home BancShares during the second quarter valued at $194,000. Finally, Allworth Financial LP raised its stake in shares of Home BancShares by 88.4% during the second quarter. Allworth Financial LP now owns 13,737 shares of the financial services provider's stock valued at $392,000 after acquiring an additional 6,447 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Home BancShares Stock Performance

Home BancShares stock opened at $28.66 on Friday. Home BancShares has a 12-month low of $25.50 and a 12-month high of $31.70. 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 business's 50-day moving average price is $30.11 and its two-hundred day moving average price is $28.43. The stock has a market cap of $5.73 billion, a PE ratio of 11.85 and a beta of 0.72.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $295.10 million for the quarter, compared to analyst estimates 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 was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. As a group, analysts expect that Home BancShares will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were given a $0.23 dividend. This is a boost from Home BancShares's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, August 12th. Home BancShares's dividend payout ratio is 38.02%.

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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