2,172,583 Shares in Home BancShares, Inc. $HOMB Acquired by Azora Capital LP

Key Points

• Azora Capital LP acquired 2.17 million Home BancShares shares worth approximately $62 million, representing a 1.09% stake and 2.6% of the fund’s portfolio. Institutional investors collectively own 67.31% of the company.
• Home BancShares exceeded quarterly expectations, reporting $0.64 EPS and $295.1 million in revenue, with revenue up 8.9% year over year. The company also increased its quarterly dividend from $0.21 to $0.23 per share, implying a 3.1% yield.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $32.83, compared with the reported share price of $29.83.

Azora Capital LP bought a new position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,172,583 shares of the financial services provider's stock, valued at approximately $62,027,000. Home BancShares accounts for 2.6% of Azora Capital LP's holdings, making the stock its 13th largest position. Azora Capital LP owned 1.09% of Home BancShares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of America Corp DE purchased a new position in shares of Home BancShares in the 2nd quarter valued at $18,242,000. Basswood Capital Management L.L.C. bought a new stake in shares of Home BancShares in the 2nd quarter valued at about $4,755,000. Freestone Grove Partners LP purchased a new position in shares of Home BancShares in the 2nd quarter worth approximately $3,106,000. Odyssean LLC grew its position in shares of Home BancShares by 93.8% in the 2nd quarter. Odyssean LLC now owns 105,232 shares of the financial services provider's stock worth $3,004,000 after buying an additional 50,943 shares during the last quarter. Finally, Man Group plc bought a new position in shares of Home BancShares during the 2nd quarter worth approximately $290,000. Institutional investors own 67.31% of the company's stock.

Insider Buying and Selling

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.39% of the company's stock.

Home BancShares Price Performance

Shares of NYSE HOMB opened at $29.83 on Thursday. The business's 50 day moving average price is $29.93 and its 200 day moving average price is $28.24. The firm has a market cap of $5.97 billion, a P/E ratio of 12.33 and a beta of 0.69. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week 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.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $295.10 million during 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%. Home BancShares's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. On average, sell-side analysts expect that Home BancShares, Inc. will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The firm 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 $0.23 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Home BancShares's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.1%. Home BancShares's dividend payout ratio is currently 38.02%.

Analyst Ratings Changes

A number of research firms recently commented on HOMB. Stephens increased their target price on shares of Home BancShares from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Citigroup reaffirmed a "neutral" rating and issued a $32.00 price target (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Benchmark assumed coverage on Home BancShares in a research report on Wednesday, June 24th. They set a "hold" rating on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $31.00 price objective (up from $30.00) on shares of Home BancShares in a report on Wednesday, August 19th. Finally, Weiss Ratings raised Home BancShares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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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