Zurich Insurance Group Ltd FI Invests $1.30 Million in Home BancShares, Inc. $HOMB

Key Points

• Zurich Insurance Group Ltd FI has acquired 46,000 shares of Home BancShares, Inc. valued at approximately $1.3 million in the first quarter.
• Home BancShares reported earnings per share of $0.58 for the quarter, meeting consensus estimates, and demonstrated a revenue increase of 6.5% year-over-year.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annualized yield of 2.7% and a payout ratio of 36.53%.

Zurich Insurance Group Ltd FI acquired a new stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 46,000 shares of the financial services provider's stock, valued at approximately $1,300,000.

Several other large investors also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd grew its stake in Home BancShares by 97.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 45,845 shares of the financial services provider's stock valued at $1,296,000 after acquiring an additional 22,654 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Home BancShares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 110,969 shares of the financial services provider's stock valued at $3,137,000 after purchasing an additional 4,870 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Home BancShares by 21.4% in the 1st quarter. AQR Capital Management LLC now owns 326,506 shares of the financial services provider's stock valued at $9,159,000 after purchasing an additional 57,460 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Home BancShares in the 1st quarter valued at about $3,680,000. Finally, Graham Capital Management L.P. boosted its holdings in Home BancShares by 252.6% in the 1st quarter. Graham Capital Management L.P. now owns 58,940 shares of the financial services provider's stock valued at $1,666,000 after purchasing an additional 42,225 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Stock Performance

Shares of NYSE:HOMB traded down $0.21 during midday trading on Monday, hitting $29.66. The stock had a trading volume of 439,729 shares, compared to its average volume of 1,000,337. The company has a market capitalization of $5.84 billion, a PE ratio of 13.55 and a beta of 0.81. The stock has a 50 day moving average price of $29.05 and a two-hundred day moving average price of $28.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Home BancShares, Inc. has a 1 year low of $24.22 and a 1 year high of $32.90.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. The business had revenue of $271.03 million for the quarter, compared to the consensus estimate of $262.56 million. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, equities analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th were paid a $0.20 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. Home BancShares's dividend payout ratio (DPR) is 36.53%.

Analyst Upgrades and Downgrades

HOMB has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Piper Sandler increased their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Cantor Fitzgerald started coverage on shares of Home BancShares in a research report on Wednesday, September 10th. They set a "neutral" rating and a $32.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Insider Activity

In related news, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $27.52, for a total value of $664,855.68. Following the completion of the sale, the chief executive officer owned 53,308 shares in the company, valued at $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Allison sold 110,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the completion of the sale, the chief executive officer owned 5,540,776 shares of the company's stock, valued at $166,334,095.52. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

Home BancShares Company Profile

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.