Alps Advisors Inc. Makes New Investment in Home BancShares, Inc. (NYSE:HOMB)

Alps Advisors Inc. acquired a new stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,580 shares of the financial services provider's stock, valued at approximately $356,000.

A number of other institutional investors also recently modified their holdings of the stock. M&T Bank Corp increased its holdings in shares of Home BancShares by 8.5% in the first quarter. M&T Bank Corp now owns 13,207 shares of the financial services provider's stock valued at $374,000 after purchasing an additional 1,036 shares in the last quarter. Gilliland Jeter Wealth Management LLC boosted its position in Home BancShares by 4.5% in the 1st quarter. Gilliland Jeter Wealth Management LLC now owns 28,237 shares of the financial services provider's stock valued at $798,000 after buying an additional 1,225 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Home BancShares by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 428,649 shares of the financial services provider's stock valued at $12,118,000 after buying an additional 4,019 shares during the period. Hudson Edge Investment Partners Inc. increased its stake in shares of Home BancShares by 5.1% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 42,532 shares of the financial services provider's stock valued at $1,202,000 after buying an additional 2,046 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Home BancShares by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 21,657 shares of the financial services provider's stock worth $612,000 after acquiring an additional 575 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

Home BancShares Trading Up 3.6%

HOMB traded up $1.05 during midday trading on Friday, reaching $30.18. 2,040,251 shares of the company were exchanged, compared to its average volume of 1,009,629. The stock has a market capitalization of $5.96 billion, a P/E ratio of 13.78 and a beta of 0.79. Home BancShares, Inc. has a one year low of $24.22 and a one year high of $32.91. The stock's 50-day simple moving average is $28.65 and its 200 day simple moving average is $28.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. Home BancShares had a net margin of 29.58% and a return on equity of 10.67%. Home BancShares's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. As a group, analysts forecast that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. This is a boost from Home BancShares's previous quarterly dividend of $0.20. Home BancShares's dividend payout ratio is currently 36.53%.

Insider Activity at Home BancShares

In other news, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $27.52, for a total transaction of $664,855.68. Following the transaction, the chief executive officer owned 53,308 shares in the company, valued at $1,467,036.16. The trade was a 31.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin Hester sold 7,128 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $28.67, for a total value of $204,359.76. Following the completion of the transaction, the insider owned 124,912 shares of the company's stock, valued at $3,581,227.04. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,787 shares of company stock worth $937,840 in the last quarter. Corporate insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

HOMB has been the topic of several recent research reports. Royal Bank Of Canada decreased their price target on Home BancShares from $33.00 to $31.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Stephens reaffirmed an "overweight" rating and issued a $33.00 target price on shares of Home BancShares in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Piper Sandler increased their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.20.

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.