Allspring Global Investments Holdings LLC Trims Stake in Home BancShares, Inc. (NYSE:HOMB)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 371,259 shares of the financial services provider's stock after selling 14,012 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.19% of Home BancShares worth $10,477,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HOMB. Aster Capital Management DIFC Ltd purchased a new position in Home BancShares in the 4th quarter worth approximately $28,000. Nomura Asset Management Co. Ltd. raised its holdings in Home BancShares by 48.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,630 shares of the financial services provider's stock worth $46,000 after acquiring an additional 530 shares during the last quarter. GAMMA Investing LLC raised its holdings in Home BancShares by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock worth $74,000 after acquiring an additional 995 shares during the last quarter. UMB Bank n.a. raised its holdings in Home BancShares by 32.4% in the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock worth $75,000 after acquiring an additional 647 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in Home BancShares in the 4th quarter worth approximately $85,000. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Home BancShares Stock Performance

Shares of HOMB stock traded down $0.44 during mid-day trading on Monday, reaching $29.37. 902,045 shares of the company's stock traded hands, compared to its average volume of 1,009,459. Home BancShares, Inc. has a 12 month low of $23.23 and a 12 month high of $32.91. The firm has a 50 day moving average price of $28.49 and a two-hundred day moving average price of $28.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $5.80 billion, a PE ratio of 13.99 and a beta of 0.79.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $260.08 million during the quarter, compared to the consensus estimate of $255.20 million. Home BancShares had a net margin of 28.44% and a return on equity of 10.49%. On average, research analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.80 annualized dividend and a yield of 2.72%. This is a boost from Home BancShares's previous quarterly dividend of $0.20. Home BancShares's payout ratio is presently 38.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HOMB shares. Stephens restated an "overweight" rating and issued a $33.00 price objective on shares of Home BancShares in a report on Monday, April 21st. Wall Street Zen raised shares of Home BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada cut their target price on shares of Home BancShares from $33.00 to $31.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $32.40.

Insiders Place Their Bets

In other news, insider Kevin Hester sold 7,128 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $28.67, for a total transaction of $204,359.76. Following the sale, the insider directly owned 124,912 shares in the company, valued at approximately $3,581,227.04. This represents a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Stephen Tipton sold 24,159 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $27.52, for a total transaction of $664,855.68. Following the sale, the chief executive officer owned 53,308 shares in the company, valued at $1,467,036.16. This represents a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,787 shares of company stock worth $937,840 in the last 90 days. 6.30% of the stock is currently owned by corporate 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.