108,779 Shares in Home BancShares, Inc. $HOMB Purchased by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners purchased 108,779 Home BancShares shares worth approximately $3.1 million, while institutional investors collectively own 67.31% of the company.
• Home BancShares exceeded quarterly expectations, reporting $0.64 EPS versus a $0.62 consensus and $295.1 million in revenue, up 8.9% year over year.
• The company raised its quarterly dividend from $0.21 to $0.23 per share, equivalent to a $0.92 annualized payout and a 3.1% yield; analysts maintain a “Moderate Buy” consensus with a $32.83 price target.

Freestone Grove Partners LP purchased a new stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 108,779 shares of the financial services provider's stock, valued at approximately $3,106,000. Freestone Grove Partners LP owned 0.05% of Home BancShares as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Home BancShares by 0.8% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 52,582 shares of the financial services provider's stock valued at $1,461,000 after purchasing an additional 410 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Home BancShares by 4.3% during the third quarter. Quadrant Capital Group LLC now owns 10,360 shares of the financial services provider's stock worth $293,000 after purchasing an additional 425 shares during the last quarter. Villanova Investment Management Co LLC grew its position in Home BancShares by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 114,093 shares of the financial services provider's stock valued at $3,170,000 after buying an additional 468 shares during the last quarter. Root Financial Partners LLC increased its stake in 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 valued at $29,000 after buying an additional 474 shares during the period. Finally, DRW Securities LLC increased its stake in Home BancShares by 2.8% in the 4th quarter. DRW Securities LLC now owns 19,495 shares of the financial services provider's stock valued at $542,000 after buying an additional 524 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO John Stephen 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 sale, the chief executive officer directly owned 76,308 shares of the company's stock, valued at approximately $2,410,569.72. This represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HOMB. Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Benchmark initiated coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They set a "hold" rating on the stock. Citigroup reissued a "neutral" rating and set a $32.00 price target (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Cantor Fitzgerald restated an "overweight" rating and issued a $31.00 price objective (up from $30.00) on shares of Home BancShares in a research report on Wednesday, August 19th. 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 report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.83.

Home BancShares Stock Performance

NYSE HOMB opened at $29.66 on Friday. The business has a 50 day moving average price of $30.01 and a 200 day moving average price of $28.24. The company has a market capitalization of $5.93 billion, a P/E ratio of 12.26 and a beta of 0.69. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $31.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.Home BancShares's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. Sell-side analysts expect that Home BancShares, Inc. will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.23 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. This is a boost from Home BancShares's previous quarterly dividend of $0.21. Home BancShares's payout ratio is presently 38.02%.

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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