First Trust Advisors LP Increases Stock Position in Home BancShares, Inc. $HOMB

Key Points

• First Trust Advisors LP increased its stake in Home BancShares by 52.5%, buying 767,844 shares to own 2,230,065 shares (about 1.13% of the company) worth roughly $63.1 million.
• Home BancShares reported $0.60 EPS for the quarter (in line with estimates) and revenue of $269.3 million (up 9.2% YoY but slightly below estimates); the company pays a $0.21 quarterly dividend (3.1% yield) and has an average analyst rating of Moderate Buy with a $32.40 price target.
• Shares trade near $26.69 (52-week range $24.22–$30.83) with a P/E of 11.07; institutional investors own 67.31% of the stock while insiders hold 6.39%, with two directors recently selling small positions.

First Trust Advisors LP lifted its holdings in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 52.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,230,065 shares of the financial services provider's stock after buying an additional 767,844 shares during the period. First Trust Advisors LP owned about 1.13% of Home BancShares worth $63,111,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HOMB. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Home BancShares by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider's stock valued at $12,453,000 after buying an additional 15,259 shares in the last quarter. Jane Street Group LLC raised its position in Home BancShares by 82.7% in the first quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider's stock worth $7,826,000 after acquiring an additional 125,301 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Home BancShares by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 1,769,612 shares of the financial services provider's stock valued at $50,363,000 after acquiring an additional 25,578 shares during the period. Savant Capital LLC acquired a new stake in Home BancShares in the second quarter valued at $283,000. Finally, Los Angeles Capital Management LLC boosted its position in shares of Home BancShares by 43.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 61,927 shares of the financial services provider's stock worth $1,762,000 after purchasing an additional 18,843 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Home BancShares

In other news, Director John W. Allison II sold 5,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the sale, the director directly owned 651,995 shares in the company, valued at $18,379,739.05. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donna Townsell sold 5,563 shares of the firm's stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $28.38, for a total transaction of $157,877.94. Following the transaction, the director directly owned 218,460 shares of the company's stock, valued at approximately $6,199,894.80. This trade represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on HOMB. Zacks Research raised shares of Home BancShares from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 19th. Cantor Fitzgerald reduced their price objective on shares of Home BancShares from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Piper Sandler reissued an "overweight" rating and set a $35.00 price objective (up from $34.00) on shares of Home BancShares in a report on Friday, January 16th. Royal Bank Of Canada set a $31.00 target price on shares of Home BancShares in a research report on Monday, January 12th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Home BancShares in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Home BancShares presently has an average rating of "Moderate Buy" and an average price target of $32.40.

Home BancShares Trading Down 1.0%

Shares of HOMB stock opened at $26.69 on Wednesday. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $30.83. The stock has a market cap of $5.25 billion, a P/E ratio of 11.07 and a beta of 0.78. The business has a fifty day simple moving average of $28.70 and a 200-day simple moving average of $28.38. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.18.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $269.25 million for the quarter, compared to analyst estimates of $272.48 million. Home BancShares had a net margin of 32.18% and a return on equity of 11.16%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. On average, analysts forecast 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 was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, February 11th. Home BancShares's dividend payout ratio is 34.85%.

Home BancShares 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.

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