Capital Research Global Investors Sells 163,428 Shares of Home BancShares, Inc. $HOMB

Key Points

• Capital Research Global Investors trimmed its stake in Home BancShares by 3.0%, selling 163,428 shares and ending the quarter with 5,349,719 shares (about 2.72% of the company) worth roughly $151.4 million.
• Several institutions reshuffled positions—American Century added 626,655 shares (+14.7%), First Trust Advisors bought 767,844 shares (+52.5%), and Norges Bank opened a new ~$64.5 million position—leaving institutional ownership at about 67.31%.
• Fundamentals: HOMB recently reported quarterly EPS of $0.60 (in line with estimates) on slightly below-forecast revenue, has a market cap of ~$5.17 billion and a P/E of 10.92, and pays a quarterly dividend of $0.21 (annualized yield ~3.2%, DPR ~34.9%).

Capital Research Global Investors lessened its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,349,719 shares of the financial services provider's stock after selling 163,428 shares during the quarter. Capital Research Global Investors owned about 2.72% of Home BancShares worth $151,397,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Home BancShares by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,957,496 shares of the financial services provider's stock worth $168,597,000 after purchasing an additional 45,848 shares during the last quarter. American Century Companies Inc. increased its holdings in Home BancShares by 14.7% in the second quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider's stock valued at $138,772,000 after purchasing an additional 626,655 shares during the last quarter. Geode Capital Management LLC increased its holdings in Home BancShares by 0.6% in the second quarter. Geode Capital Management LLC now owns 4,572,656 shares of the financial services provider's stock valued at $130,151,000 after purchasing an additional 26,511 shares during the last quarter. Norges Bank acquired a new position in Home BancShares in the second quarter valued at about $64,545,000. Finally, First Trust Advisors LP boosted its holdings in Home BancShares by 52.5% during the third quarter. First Trust Advisors LP now owns 2,230,065 shares of the financial services provider's stock worth $63,111,000 after buying an additional 767,844 shares during the last quarter. Institutional investors own 67.31% of the company's stock.

Home BancShares Stock Down 1.4%

NYSE:HOMB opened at $26.32 on Thursday. Home BancShares, Inc. has a twelve month low of $24.22 and a twelve month high of $30.83. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average price is $28.67 and its two-hundred day moving average price is $28.37. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 10.92 and a beta of 0.78.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.60. The company had revenue of $269.25 million during the quarter, compared to analysts' expectations of $272.48 million. Home BancShares had a return on equity of 11.16% and a net margin of 32.18%.The business's revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. Equities research analysts expect that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.84 annualized dividend and a yield of 3.2%. Home BancShares's dividend payout ratio (DPR) is presently 34.85%.

Insiders Place Their Bets

In other Home BancShares news, Director Donna Townsell sold 5,563 shares of the business's stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $28.38, for a total value of $157,877.94. Following the completion of the sale, the director owned 218,460 shares of the company's stock, valued at $6,199,894.80. The trade was a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John W. Allison II sold 5,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $28.19, for a total transaction of $140,950.00. Following the transaction, the director owned 651,995 shares in the company, valued at approximately $18,379,739.05. The trade was a 0.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HOMB has been the topic of several analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Home BancShares in a report on Monday, December 29th. Zacks Research raised shares of Home BancShares from a "hold" rating to a "strong-buy" rating in a report on Monday, January 19th. Royal Bank Of Canada set a $31.00 price objective on shares of Home BancShares in a research report on Monday, January 12th. Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Piper Sandler reissued an "overweight" rating and issued a $35.00 target price (up from $34.00) on shares of Home BancShares in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $32.40.

About Home BancShares

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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