1,543,548 Shares in Home BancShares, Inc. $HOMB Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 1.54 million Home BancShares shares worth approximately $44.1 million, taking a 0.77% stake; institutional investors collectively own 67.31% of the company.
• Home BancShares exceeded quarterly expectations with $0.64 in EPS and $295.1 million in revenue, up 8.9% year over year. The company also raised its quarterly dividend to $0.23 per share, implying a 3.1% yield.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $32.83 versus the stock’s reported $29.70 price; CEO John Stephen Tipton separately sold 12,000 shares.

Bank of New York Mellon Corp bought a new position in Home BancShares, Inc. (NYSE:HOMB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,543,548 shares of the financial services provider's stock, valued at approximately $44,068,000. Bank of New York Mellon Corp owned approximately 0.77% of Home BancShares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey increased its holdings 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 worth $1,461,000 after purchasing an additional 410 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Home BancShares by 4.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,360 shares of the financial services provider's stock worth $293,000 after buying an additional 425 shares in the last quarter. Villanova Investment Management Co LLC raised 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 worth $3,170,000 after buying an additional 468 shares during the last quarter. Root Financial Partners LLC raised its position 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 worth $29,000 after buying an additional 474 shares during the last quarter. Finally, DRW Securities LLC lifted its stake in Home BancShares by 2.8% during the 4th quarter. DRW Securities LLC now owns 19,495 shares of the financial services provider's stock valued at $542,000 after acquiring an additional 524 shares during the period. Hedge funds and other institutional investors own 67.31% of the company's stock.

Insider Transactions at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the company's stock in a transaction dated 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 in the company, 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 SEC, which is available through this hyperlink. Corporate insiders own 6.39% of the company's stock.

Home BancShares Stock Down 0.4%

Shares of HOMB stock opened at $29.70 on Friday. Home BancShares, Inc. has a 12 month low of $25.50 and a 12 month high of $31.70. The stock has a market cap of $5.94 billion, a P/E ratio of 12.27 and a beta of 0.69. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $29.97 and a two-hundred day simple moving average of $28.23.

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

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. 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 3.1%. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares's dividend payout ratio is presently 38.02%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $31.00 price target (up from $30.00) on shares of Home BancShares in a research note on Wednesday, August 19th. Benchmark started coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They set a "hold" rating on the stock. Weiss Ratings upgraded shares of Home BancShares from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Finally, Citigroup reiterated a "neutral" rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.83.

Home BancShares 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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