64,986 Home BancShares, Inc. $HOMB Shares Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its Home BancShares position by 64,986 shares, or 2.7%, leaving it with 2.38 million shares valued at approximately $67.1 million. Institutional investors collectively own 67.31% of the company.
• Analyst sentiment remains favorable, with five Buy ratings and four Holds; Home BancShares has a “Moderate Buy” consensus rating and an average price target of $33.00.
• Home BancShares exceeded quarterly earnings and revenue expectations, reporting $0.64 in EPS and $295.1 million in revenue. The company also increased its quarterly dividend to $0.23 per share, implying a 3.2% annual yield.

Copeland Capital Management LLC reduced its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,380,723 shares of the financial services provider's stock after selling 64,986 shares during the quarter. Home BancShares makes up about 1.5% of Copeland Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Copeland Capital Management LLC owned approximately 1.19% of Home BancShares worth $67,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Home BancShares by 15.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,869 shares of the financial services provider's stock valued at $81,000 after buying an additional 387 shares in the last quarter. Villanova Investment Management Co LLC boosted its holdings 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 period. Root Financial Partners LLC boosted its holdings 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 period. Everhart Financial Group Inc. boosted its holdings in Home BancShares by 3.0% in the 3rd quarter. Everhart Financial Group Inc. now owns 22,621 shares of the financial services provider's stock worth $637,000 after buying an additional 654 shares during the period. Finally, State of Michigan Retirement System increased its stake in Home BancShares by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 44,030 shares of the financial services provider's stock worth $1,186,000 after buying an additional 800 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOMB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Benchmark assumed coverage on Home BancShares in a research note on Wednesday, June 24th. They set a "hold" rating on the stock. Citigroup reissued 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. Stephens boosted their price target on Home BancShares from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Home BancShares presently has an average rating of "Moderate Buy" and an average target price of $33.00.

Home BancShares Trading Down 0.4%

HOMB stock opened at $28.40 on Wednesday. The firm has a fifty day moving average price of $29.71 and a 200 day moving average price of $28.55. Home BancShares, Inc. has a fifty-two week low of $25.50 and a fifty-two week high of $31.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $5.68 billion, a PE ratio of 11.63 and a beta of 0.72.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $288.70 million. During the same period last year, the company posted $0.58 EPS. The business's revenue was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were given a $0.23 dividend. This is an increase from Home BancShares's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, August 12th. Home BancShares's dividend payout ratio (DPR) is 38.02%.

Insider Buying and Selling

In other Home BancShares news, CEO John Tipton sold 12,000 shares of the business's stock in a transaction that occurred on 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 $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.39% of the company's stock.

Home BancShares Profile

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.

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