51,890 Shares in Home BancShares, Inc. $HOMB Purchased by Edgestream Partners L.P.

Key Points

• Edgestream Partners purchased 51,890 Home BancShares shares worth approximately $1.4 million in the first quarter. Institutional investors collectively own 67.31% of the company.
• Analyst sentiment remains cautious, with three Buy ratings and five Hold ratings. The stock has an average rating of Hold and a consensus price target of $32.67.
• Home BancShares exceeded quarterly earnings and revenue estimates, reporting $0.64 in EPS and $295.1 million in revenue. The company also raised its quarterly dividend to $0.23 per share, equivalent to a 2.9% annualized yield.

Edgestream Partners L.P. purchased a new stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,890 shares of the financial services provider's stock, valued at approximately $1,397,000.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Home BancShares during the 4th quarter worth approximately $66,673,000. First Trust Advisors LP grew its holdings in shares of Home BancShares by 37.3% in the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider's stock valued at $85,031,000 after purchasing an additional 830,823 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Home BancShares by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider's stock valued at $567,372,000 after purchasing an additional 621,751 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Home BancShares by 9.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,491 shares of the financial services provider's stock worth $180,979,000 after purchasing an additional 559,603 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Home BancShares by 82.9% in the third quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider's stock worth $31,716,000 after purchasing an additional 508,127 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on HOMB. Keefe, Bruyette & Woods increased their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday, July 17th. Benchmark assumed 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 Home BancShares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Citigroup reissued a "neutral" rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $32.67.

Home BancShares Stock Performance

Shares of Home BancShares stock opened at $31.25 on Tuesday. The company has a market capitalization of $6.30 billion, a PE ratio of 12.92 and a beta of 0.68. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $31.70. The stock's fifty day moving average is $28.71 and its two-hundred day moving average is $28.03. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate 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 11.25% and a net margin of 32.10%.Home BancShares's quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.9%. This is a positive change from Home BancShares's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares's dividend payout ratio is 38.02%.

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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