Cetera Investment Advisers Raises Position in Home BancShares, Inc. (NYSE:HOMB)

Key Points

• Cetera Investment Advisers significantly increased its stake in Home BancShares by 52.8% in the first quarter, bringing their total holdings to 47,145 shares worth $1.33 million.
• Home BancShares recently declared a quarterly dividend of $0.20 per share, which equates to an annual yield of 2.9% with a payout ratio of 36.53%.
• Analysts have a consensus rating of "Moderate Buy" for Home BancShares, with a target price averaging $33.20, while recent earnings showed a revenue increase of 6.5% year-over-year.

Cetera Investment Advisers lifted its stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 52.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,145 shares of the financial services provider's stock after purchasing an additional 16,286 shares during the quarter. Cetera Investment Advisers' holdings in Home BancShares were worth $1,333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HOMB. Wealth Enhancement Advisory Services LLC boosted its holdings in Home BancShares by 12.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,451 shares of the financial services provider's stock valued at $522,000 after purchasing an additional 2,096 shares during the period. Principal Financial Group Inc. raised its position in shares of Home BancShares by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 428,649 shares of the financial services provider's stock worth $12,118,000 after acquiring an additional 4,019 shares in the last quarter. GAMMA Investing LLC lifted its stake in Home BancShares by 60.8% during the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock worth $74,000 after purchasing an additional 995 shares during the last quarter. Cerity Partners LLC lifted its stake in Home BancShares by 48.0% during the first quarter. Cerity Partners LLC now owns 18,804 shares of the financial services provider's stock worth $532,000 after purchasing an additional 6,102 shares during the last quarter. Finally, Vest Financial LLC purchased a new stake in Home BancShares during the first quarter worth approximately $1,691,000. Institutional investors and hedge funds own 67.31% of the company's stock.

Insider Activity

In other news, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction on Friday, June 20th. The stock was sold at an average price of $27.52, for a total transaction of $664,855.68. Following the completion of the transaction, the chief executive officer owned 53,308 shares of the company's stock, valued at $1,467,036.16. The trade was a 31.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.30% of the stock is owned by company insiders.

Home BancShares Stock Performance

NYSE HOMB traded down $0.04 on Thursday, hitting $28.78. 288,281 shares of the company's stock were exchanged, compared to its average volume of 1,019,550. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90. The firm's 50-day moving average price is $28.60 and its two-hundred day moving average price is $28.52. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $32.90. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 13.14 and a beta of 0.78.

Home BancShares (NYSE:HOMB - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%. The company had revenue of $271.03 million for the quarter, compared to analysts' expectations of $262.56 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, August 13th. Home BancShares's payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

HOMB has been the subject of several recent analyst reports. Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Piper Sandler boosted their target price on Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Stephens reissued an "overweight" rating and issued a $33.00 target price on shares of Home BancShares in a report on Monday, April 21st. Royal Bank Of Canada reduced their target price on Home BancShares from $33.00 to $31.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods boosted their target price on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

About Home BancShares

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.