Ballast Inc. Takes $272,000 Position in Home BancShares, Inc. (NYSE:HOMB)

Key Points

• Ballast Inc. acquired 9,617 shares of Home BancShares, valued at approximately $272,000, marking a significant move in the first quarter.
• Analysts have recently adjusted their ratings, with a mix of hold and buy ratings, leading to a target price average of $33.20 for the stock.
• The company announced a quarterly dividend of $0.20 per share, representing an annual yield of 2.9%, set to be paid on September 3rd.

Ballast Inc. purchased a new stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,617 shares of the financial services provider's stock, valued at approximately $272,000.

A number of other institutional investors have also recently bought and sold shares of HOMB. Franklin Resources Inc. grew its holdings in shares of Home BancShares by 231.7% during the fourth quarter. Franklin Resources Inc. now owns 31,273 shares of the financial services provider's stock valued at $885,000 after buying an additional 21,845 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Home BancShares by 21.1% in the fourth quarter. Wells Fargo & Company MN now owns 170,770 shares of the financial services provider's stock worth $4,833,000 after purchasing an additional 29,718 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Home BancShares by 1.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 478,512 shares of the financial services provider's stock worth $13,542,000 after purchasing an additional 7,239 shares during the period. Cerity Partners LLC grew its position in Home BancShares by 33.2% during the fourth quarter. Cerity Partners LLC now owns 12,702 shares of the financial services provider's stock valued at $358,000 after purchasing an additional 3,164 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Home BancShares by 17.9% in the 4th quarter. Bank of Montreal Can now owns 20,913 shares of the financial services provider's stock valued at $592,000 after buying an additional 3,175 shares during the period. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Stock Performance

Shares of NYSE HOMB traded up $0.05 during trading hours on Thursday, hitting $28.87. 799,901 shares of the stock were exchanged, compared to its average volume of 1,022,931. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90. The company's 50 day moving average is $28.60 and its 200 day moving average is $28.52. The firm has a market capitalization of $5.69 billion, a P/E ratio of 13.18 and a beta of 0.78. Home BancShares, Inc. has a one year low of $24.22 and a one year high of $32.90.

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

Home BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Home BancShares's dividend payout ratio is 36.53%.

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction on 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 directly owned 53,308 shares of the company's stock, valued at $1,467,036.16. This represents a 31.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Stephens reiterated an "overweight" rating and issued a $33.00 price objective on shares of Home BancShares in a research note on Monday, April 21st. Royal Bank Of Canada dropped their price objective on shares of Home BancShares from $33.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Piper Sandler increased their price target on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.20.

About Home BancShares

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.