Charles Schwab Investment Management Inc. Increases Stock Holdings in Home BancShares, Inc. $HOMB

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Home BancShares, purchasing 75,463 additional shares, bringing its total ownership to 2,242,307 shares, valued at approximately $63.4 million.
• Home BancShares announced a quarterly dividend of $0.20 per share, with an ex-dividend date of August 13th, resulting in an annual yield of 2.8% based on current share prices.
• The stock received mixed ratings from analysts, with price objectives ranging from $31.00 to $35.00, reflecting varying opinions on its future performance.

Charles Schwab Investment Management Inc. increased its stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,242,307 shares of the financial services provider's stock after acquiring an additional 75,463 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.13% of Home BancShares worth $63,390,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Home BancShares by 60.8% in the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 995 shares in the last quarter. UMB Bank n.a. increased its position in Home BancShares by 32.4% in the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after buying an additional 647 shares in the last quarter. Fifth Third Bancorp raised its stake in Home BancShares by 60.5% during the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock worth $98,000 after buying an additional 1,307 shares during the period. Hohimer Wealth Management LLC bought a new position in Home BancShares in the first quarter worth approximately $203,000. Finally, 1492 Capital Management LLC acquired a new stake in Home BancShares in the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 67.31% of the company's stock.

Home BancShares Stock Up 0.2%

NYSE:HOMB traded up $0.07 on Monday, hitting $28.29. The stock had a trading volume of 257,699 shares, compared to its average volume of 1,015,824. Home BancShares, Inc. has a 1 year low of $24.22 and a 1 year high of $32.90. The firm's fifty day simple moving average is $28.62 and its two-hundred day simple moving average is $28.46. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $5.57 billion, a P/E ratio of 12.92 and a beta of 0.78.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, hitting analysts' consensus estimates 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 return on equity of 10.60% and a net margin of 29.58%. Home BancShares's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. Analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Dividend Announcement

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

Insider Buying and Selling at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $27.52, for a total value of $664,855.68. Following the sale, the chief executive officer owned 53,308 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HOMB has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price 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. Wall Street Zen downgraded shares of Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday. Stephens reaffirmed an "overweight" rating and issued a $33.00 price target on shares of Home BancShares in a research report on Monday, April 21st. Keefe, Bruyette & Woods lifted their price target on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Finally, Piper Sandler increased their price objective on Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Home BancShares has a consensus rating of "Hold" and a consensus target price of $33.20.

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.