Bank of New York Mellon Corp Sells 53,464 Shares of Home BancShares, Inc. (NYSE:HOMB)

Bank of New York Mellon Corp lowered its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,744,034 shares of the financial services provider's stock after selling 53,464 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Home BancShares worth $49,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in HOMB. Jones Financial Companies Lllp increased its stake in shares of Home BancShares by 91.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,489 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 1,666 shares during the period. Atria Investments Inc boosted its stake in Home BancShares by 14.6% in the 4th quarter. Atria Investments Inc now owns 9,111 shares of the financial services provider's stock worth $258,000 after purchasing an additional 1,160 shares during the period. Proficio Capital Partners LLC acquired a new position in Home BancShares in the 4th quarter worth approximately $722,000. Raymond James Financial Inc. acquired a new stake in shares of Home BancShares during the 4th quarter valued at $5,656,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Home BancShares by 2.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,585 shares of the financial services provider's stock valued at $894,000 after buying an additional 748 shares during the period. Institutional investors and hedge funds own 67.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HOMB shares. Royal Bank Of Canada reduced their price objective on shares of Home BancShares from $33.00 to $31.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Stephens restated an "overweight" rating and set a $33.00 price objective on shares of Home BancShares in a report on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.40.

Insider Buying and Selling

In other news, CAO Jennifer C. Floyd sold 2,500 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.45, for a total transaction of $68,625.00. Following the completion of the sale, the chief accounting officer owned 4,301 shares of the company's stock, valued at $118,062.45. This represents a 36.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Hester sold 7,128 shares of the stock in a transaction on Thursday, May 8th. The stock was 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 of the company's stock, valued at $3,581,227.04. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,787 shares of company stock valued at $937,840 over the last ninety days. Insiders own 6.30% of the company's stock.

Home BancShares Price Performance

NYSE:HOMB traded up $0.60 on Thursday, reaching $29.12. The stock had a trading volume of 2,122,185 shares, compared to its average volume of 1,005,506. The company has a market capitalization of $5.75 billion, a P/E ratio of 13.30 and a beta of 0.79. Home BancShares, Inc. has a 1-year low of $24.22 and a 1-year high of $32.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $28.65 and a 200-day moving average price of $28.55.

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

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.75%. This is an increase from Home BancShares's previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, May 14th. Home BancShares's payout ratio is 36.53%.

Home BancShares 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.