Arrowstreet Capital Limited Partnership Decreases Stock Holdings in Home BancShares, Inc. $HOMB

Key Points

• Arrowstreet Capital cut its Home BancShares position by 44.1% in the first quarter, selling 323,529 shares and retaining 409,395 shares valued at approximately $11.0 million. Institutional investors collectively own 67.31% of HOMB.
• Analyst sentiment remains mixed, with Home BancShares carrying a consensus “Hold” rating and an average price target of $32.67. Piper Sandler raised its target to $36, while Keefe, Bruyette & Woods lifted its target to $32.
• Home BancShares exceeded quarterly earnings and revenue expectations, reporting EPS of $0.64 and revenue of $295.1 million. The company also increased its quarterly dividend to $0.23 per share, equivalent to a 3.0% annualized yield.

Arrowstreet Capital Limited Partnership reduced its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 44.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 409,395 shares of the financial services provider's stock after selling 323,529 shares during the period. Arrowstreet Capital Limited Partnership owned 0.20% of Home BancShares worth $11,025,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Root Financial Partners LLC increased its position in shares of 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 valued at $29,000 after acquiring an additional 474 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Home BancShares by 164.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock valued at $30,000 after buying an additional 674 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Home BancShares during the fourth quarter worth $36,000. Covestor Ltd raised its position in Home BancShares by 110.6% in the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 697 shares during the period. Finally, Binnacle Investments Inc boosted its position in Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock valued at $38,000 after buying an additional 577 shares during the period. Institutional investors own 67.31% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HOMB shares. Piper Sandler reissued an "overweight" rating and set a $36.00 target price (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Benchmark started coverage on shares of Home BancShares in a report on Wednesday, June 24th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Weiss Ratings raised shares of Home BancShares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Home BancShares currently has an average rating of "Hold" and a consensus target price of $32.67.

Home BancShares Price Performance

Shares of Home BancShares stock opened at $31.03 on Friday. The business's fifty day moving average price is $28.62 and its 200 day moving average price is $28.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. Home BancShares, Inc. has a twelve month low of $25.50 and a twelve month high of $31.70. The stock has a market capitalization of $6.25 billion, a P/E ratio of 12.82 and a beta of 0.68.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $295.10 million during the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.58 earnings per share. As a group, research analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.23 per share. This is a boost from Home BancShares's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.92 annualized dividend and a yield of 3.0%. Home BancShares's dividend payout ratio (DPR) is presently 38.02%.

Home BancShares Company 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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