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 bought a new position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 46,000 shares of the financial services provider's stock, valued at approximately $1,300,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HOMB. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Home BancShares in the first quarter valued at about $39,000. Summit Securities Group LLC bought a new position in shares of Home BancShares in the 1st quarter worth $64,000. GAMMA Investing LLC grew its holdings in shares of Home BancShares by 60.8% during the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 995 shares during the last quarter. UMB Bank n.a. boosted its position in Home BancShares by 32.4% during the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after buying an additional 647 shares during the period. Finally, Fifth Third Bancorp boosted its position in Home BancShares by 60.5% during the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock valued at $98,000 after buying an additional 1,307 shares during the period. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Cantor Fitzgerald assumed coverage on Home BancShares in a research report on Wednesday. They set a "neutral" rating and a $32.00 target price on the stock. Wall Street Zen downgraded Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Piper Sandler raised their target price on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Insider Buying and Selling

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

Home BancShares Stock Performance

HOMB traded up $0.52 during trading on Friday, hitting $29.91. 1,561,968 shares of the stock were exchanged, compared to its average volume of 779,322. The firm has a market capitalization of $5.89 billion, a P/E ratio of 13.66 and a beta of 0.81. Home BancShares, Inc. has a 1-year low of $24.22 and a 1-year high of $32.90. The stock has a fifty day moving average price of $29.05 and a two-hundred day moving average price of $28.39. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24.

Home BancShares (NYSE:HOMB - Get Free Report) last announced 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. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.The company had revenue of $271.03 million for the quarter, compared to the consensus estimate of $262.56 million. During the same period last year, the business posted $0.52 EPS. The company's revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.7%. Home BancShares's payout ratio is 36.53%.

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.