Deutsche Bank AG Takes Position in Home BancShares, Inc. $HOMB

Key Points

• Deutsche Bank acquired 197,156 shares of Home BancShares worth approximately $5.6 million, while institutional investors collectively own 67.31% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $32.83. Recent quarterly earnings and revenue exceeded expectations, with revenue up 8.9% year over year.
• Home BancShares raised its quarterly dividend from $0.21 to $0.23 per share, representing an annualized dividend of $0.92 and a yield of approximately 3.1%; meanwhile, CEO John Stephen Tipton sold 12,000 shares.

Deutsche Bank AG acquired a new position in Home BancShares, Inc. (NYSE:HOMB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 197,156 shares of the financial services provider's stock, valued at approximately $5,629,000. Deutsche Bank AG owned about 0.10% of Home BancShares at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey lifted its stake in Home BancShares by 0.8% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 52,582 shares of the financial services provider's stock valued at $1,461,000 after purchasing an additional 410 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Home BancShares by 4.3% in the third quarter. Quadrant Capital Group LLC now owns 10,360 shares of the financial services provider's stock valued at $293,000 after buying an additional 425 shares in the last quarter. Villanova Investment Management Co LLC lifted its position in shares of Home BancShares by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 114,093 shares of the financial services provider's stock valued at $3,170,000 after acquiring an additional 468 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of Home BancShares by 76.9% during the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock worth $29,000 after acquiring an additional 474 shares in the last quarter. Finally, DRW Securities LLC grew its holdings in shares of Home BancShares by 2.8% in the 4th quarter. DRW Securities LLC now owns 19,495 shares of the financial services provider's stock worth $542,000 after acquiring an additional 524 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOMB has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Friday, July 17th. Weiss Ratings raised Home BancShares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Stephens boosted their price objective on Home BancShares from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Piper Sandler restated an "overweight" rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Finally, Citigroup reiterated a "neutral" rating and issued a $32.00 target price (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.83.

Home BancShares Stock Performance

Shares of NYSE HOMB opened at $30.08 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. Home BancShares, Inc. has a one year low of $25.50 and a one year high of $31.70. The business's 50-day moving average price is $29.84 and its two-hundred day moving average price is $28.24. The company has a market capitalization of $6.02 billion, a P/E ratio of 12.43 and a beta of 0.69.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. Analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This is a boost from Home BancShares's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.1%. Home BancShares's payout ratio is 38.02%.

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of Home BancShares stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the sale, the chief executive officer directly owned 76,308 shares in the company, valued at $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.39% of the company's stock.

Home BancShares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source