Home BancShares, Inc. $HOMB Shares Sold by Citigroup Inc.

Key Points

• Citigroup Inc. reduced its stake in Home BancShares by 15.5%, holding 282,218 shares valued at approximately $7.98 million as of the end of the first quarter.
• Home BancShares has a market cap of $5.57 billion and recently reported earnings of $0.58 per share for the last quarter, meeting analysts' expectations.
• Analysts have set a consensus price target of $33.20 for Home BancShares, varying from a sell rating to an overweight rating among different research firms.

Citigroup Inc. lowered its stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 282,218 shares of the financial services provider's stock after selling 51,832 shares during the quarter. Citigroup Inc. owned 0.14% of Home BancShares worth $7,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of HOMB. Dimensional Fund Advisors LP boosted its stake in Home BancShares by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,791,837 shares of the financial services provider's stock worth $192,211,000 after purchasing an additional 124,891 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Home BancShares by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,242,307 shares of the financial services provider's stock valued at $63,390,000 after purchasing an additional 75,463 shares during the period. Royce & Associates LP increased its holdings in Home BancShares by 0.5% in the first quarter. Royce & Associates LP now owns 1,123,775 shares of the financial services provider's stock valued at $31,769,000 after buying an additional 5,239 shares in the last quarter. Fenimore Asset Management Inc increased its holdings in Home BancShares by 0.5% in the first quarter. Fenimore Asset Management Inc now owns 511,023 shares of the financial services provider's stock valued at $14,447,000 after buying an additional 2,673 shares in the last quarter. Finally, Barclays PLC grew its holdings in Home BancShares by 20.7% during the 4th quarter. Barclays PLC now owns 510,546 shares of the financial services provider's stock valued at $14,449,000 after buying an additional 87,594 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Home BancShares Price Performance

HOMB stock traded down $0.1960 during trading on Thursday, reaching $28.5640. 394,457 shares of the company were exchanged, compared to its average volume of 863,609. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90. Home BancShares, Inc. has a twelve month low of $24.22 and a twelve month high of $32.90. The company has a 50-day moving average of $28.63 and a two-hundred day moving average of $28.45. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 13.04 and a beta of 0.78.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. The firm had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. As a group, equities analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Announces Dividend

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

Insider Activity at Home BancShares

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

Analyst Upgrades and Downgrades

Several research firms have commented on HOMB. Piper Sandler lifted their target price on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. 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 report on Monday, July 21st. Finally, Wall Street Zen downgraded shares of Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.