DAVENPORT & Co LLC Purchases New Shares in Home BancShares, Inc. $HOMB

Key Points

• DAVENPORT & Co LLC acquired a new stake in Home BancShares, Inc. with a purchase of 132,929 shares valued at approximately $3.78 million during the 2nd quarter.
• Home BancShares received multiple upgrades and positive ratings from analysts, including a "hold" rating from Wall Street Zen and a "buy" rating by Weiss Ratings, indicating growing confidence in the stock.
• The company recently announced a quarterly dividend of $0.20 per share, representing an annualized yield of 2.9%, and reported earnings of $0.58 per share, meeting analysts' expectations.

DAVENPORT & Co LLC purchased a new stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 132,929 shares of the financial services provider's stock, valued at approximately $3,783,000. DAVENPORT & Co LLC owned approximately 0.07% of Home BancShares as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. BTC Capital Management Inc. raised its position in shares of Home BancShares by 2.3% in the 2nd quarter. BTC Capital Management Inc. now owns 16,683 shares of the financial services provider's stock worth $473,000 after purchasing an additional 374 shares during the last quarter. State of Michigan Retirement System increased its holdings in Home BancShares by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 44,230 shares of the financial services provider's stock worth $1,250,000 after buying an additional 400 shares in the last quarter. Xponance Inc. increased its holdings in Home BancShares by 1.8% in the 1st quarter. Xponance Inc. now owns 26,770 shares of the financial services provider's stock worth $757,000 after buying an additional 476 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Home BancShares by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 51,800 shares of the financial services provider's stock worth $1,464,000 after buying an additional 500 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Home BancShares by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 21,657 shares of the financial services provider's stock worth $612,000 after buying an additional 575 shares in the last quarter. Institutional investors own 67.31% of the company's stock.

Wall Street Analysts Forecast Growth

HOMB has been the subject of several research analyst reports. Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Home BancShares in a report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Cantor Fitzgerald assumed coverage on Home BancShares in a research note on Wednesday, September 10th. They set a "neutral" rating and a $32.00 price target for the company. Finally, Piper Sandler boosted their price target on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Home BancShares currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Home BancShares Trading Up 0.6%

Home BancShares stock opened at $28.06 on Thursday. The business has a 50-day simple moving average of $28.84 and a two-hundred day simple moving average of $28.38. The company has a market cap of $5.53 billion, a P/E ratio of 12.81 and a beta of 0.78. Home BancShares, Inc. has a 52-week low of $24.22 and a 52-week high of $32.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24.

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

Home BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.9%. Home BancShares's payout ratio is 36.53%.

Insider Activity

In related news, CEO John W. Allison sold 110,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the completion of the transaction, the chief executive officer directly owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. The trade was a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.30% of the company's stock.

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.

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