Graham Capital Management L.P. Buys 42,225 Shares of Home BancShares, Inc. $HOMB

Key Points

• Graham Capital Management L.P. increased its stake in Home BancShares, Inc. by 252.6% during Q1, owning 58,940 shares valued at approximately $1.67 million.
• Home BancShares announced a quarterly dividend of $0.20 per share, representing a 2.7% dividend yield with a payout ratio of 36.53%.
• Analysts have mixed views on Home BancShares, with price targets ranging from $30.00 to $35.00, indicating general optimism about the stock's performance.

Graham Capital Management L.P. raised its stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 252.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,940 shares of the financial services provider's stock after acquiring an additional 42,225 shares during the quarter. Graham Capital Management L.P.'s holdings in Home BancShares were worth $1,666,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HOMB. BI Asset Management Fondsmaeglerselskab A S bought a new position in Home BancShares during the 1st quarter valued at $39,000. Summit Securities Group LLC acquired a new stake in shares of Home BancShares in the 1st quarter worth about $64,000. GAMMA Investing LLC grew its position in Home BancShares by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after buying an additional 995 shares in the last quarter. UMB Bank n.a. grew its position in Home BancShares by 32.4% in the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after buying an additional 647 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Home BancShares by 60.5% in the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock valued at $98,000 after buying an additional 1,307 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods raised their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Finally, Wall Street Zen lowered shares of Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Home BancShares currently has an average rating of "Moderate Buy" and an average price target of $33.20.

Home BancShares Trading Down 0.9%

Shares of HOMB traded down $0.27 during midday trading on Friday, hitting $29.82. The stock had a trading volume of 1,085,769 shares, compared to its average volume of 746,672. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $32.90. The business has a 50-day simple moving average of $29.04 and a two-hundred day simple moving average of $28.38. The firm has a market cap of $5.88 billion, a P/E ratio of 13.62 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.58. The business had revenue of $271.03 million during 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 firm's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Home BancShares's dividend payout ratio is 36.53%.

Insider Activity at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 53,308 shares of the company's stock, valued at approximately $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Allison sold 110,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following 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 disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.

Home BancShares Company Profile

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.