Fisher Asset Management LLC Sells 125,604 Shares of Home BancShares, Inc. $HOMB

Key Points

• Fisher Asset Management trimmed its Home BancShares stake by 6.0% in Q4, selling 125,604 shares and leaving it with 1.96 million shares valued at about $54.4 million.
• Mixed sentiment from analysts continues on HOMB: the stock carries a consensus “Moderate Buy” rating with an average target price of $31.20, though some firms recently downgraded or lowered price targets.
• Home BancShares reported steady results and a dividend, posting $0.60 EPS in line with expectations, raising its quarterly dividend to $0.21 per share, and offering a 3.1% annualized yield.

Fisher Asset Management LLC lessened its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,956,928 shares of the financial services provider's stock after selling 125,604 shares during the period. Fisher Asset Management LLC owned about 1.00% of Home BancShares worth $54,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd grew its position in shares of Home BancShares by 110.6% in the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 697 shares during the period. Binnacle Investments Inc lifted its stake in shares of Home BancShares by 76.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock worth $38,000 after buying an additional 577 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Home BancShares during the 4th quarter worth about $49,000. Danske Bank A S acquired a new stake in shares of Home BancShares during the 3rd quarter worth about $57,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Home BancShares by 214.0% during the 4th quarter. Clearstead Advisors LLC now owns 2,195 shares of the financial services provider's stock worth $61,000 after buying an additional 1,496 shares during the last quarter. Institutional investors own 67.31% of the company's stock.

Analyst Upgrades and Downgrades

HOMB has been the subject of a number of research reports. Piper Sandler set a $33.00 target price on shares of Home BancShares and gave the stock an "overweight" rating in a research note on Friday, April 17th. Zacks Research cut shares of Home BancShares from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Cantor Fitzgerald restated a "neutral" rating and set a $30.00 target price (down from $31.00) on shares of Home BancShares in a research note on Tuesday, May 19th. Wall Street Zen cut shares of Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Finally, Stephens dropped their price objective on shares of Home BancShares from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.20.

Home BancShares Price Performance

Shares of NYSE:HOMB opened at $26.77 on Wednesday. The firm has a 50 day moving average of $26.79 and a 200-day moving average of $27.78. The stock has a market capitalization of $5.39 billion, a PE ratio of 11.02 and a beta of 0.69. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. Home BancShares, Inc. has a 12 month low of $25.50 and a 12 month high of $30.83.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. The company had revenue of $266.71 million during the quarter, compared to analysts' expectations of $274.06 million. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. On average, equities research analysts predict that Home BancShares, Inc. will post 2.48 EPS for the current fiscal year.

Home BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be given a $0.21 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.1%. Home BancShares's payout ratio is presently 34.57%.

Insider Activity at Home BancShares

In other news, CAO Jennifer C. Floyd sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total value of $81,330.00. Following the completion of the transaction, the chief accounting officer directly owned 4,635 shares in the company, valued at approximately $125,654.85. The trade was a 39.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Allison bought 100,000 shares of the company's stock in a transaction dated Friday, April 17th. The stock was purchased at an average price of $26.96 per share, with a total value of $2,696,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,798,926 shares in the company, valued at approximately $156,339,044.96. This represents a 1.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.39% of the stock is currently owned by insiders.

About Home BancShares

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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