Home BancShares, Inc. $HOMB Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its position in Home BancShares by 15.4% during the first quarter, owning approximately 115,303 shares valued at $3.26 million at the end of the quarter.
• Home BancShares' stock has received mixed analyst ratings, with price targets ranging from $30 to $35, and an average rating of "Moderate Buy".
• The company reported a net margin of 29.58% with revenue of $271.03 million for the last quarter, representing a 6.5% year-over-year increase.

Great Lakes Advisors LLC lowered its stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 15.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,303 shares of the financial services provider's stock after selling 21,036 shares during the period. Great Lakes Advisors LLC owned 0.06% of Home BancShares worth $3,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOMB. Wealth Enhancement Advisory Services LLC lifted its holdings in Home BancShares by 12.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,451 shares of the financial services provider's stock valued at $522,000 after acquiring an additional 2,096 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Home BancShares by 0.9% in the first quarter. Principal Financial Group Inc. now owns 428,649 shares of the financial services provider's stock valued at $12,118,000 after acquiring an additional 4,019 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Home BancShares by 60.8% in the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 995 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Home BancShares by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,242,307 shares of the financial services provider's stock valued at $63,390,000 after acquiring an additional 75,463 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Home BancShares by 48.0% during the first quarter. Cerity Partners LLC now owns 18,804 shares of the financial services provider's stock worth $532,000 after purchasing an additional 6,102 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Home BancShares Stock Performance

Shares of HOMB stock traded down $0.47 during mid-day trading on Tuesday, hitting $28.92. 109,043 shares of the stock were exchanged, compared to its average volume of 1,000,544. The stock's fifty day simple moving average is $29.05 and its two-hundred day simple moving average is $28.37. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 13.20 and a beta of 0.81. Home BancShares, Inc. has a 12-month low of $24.22 and a 12-month high of $32.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90.

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

Home BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders 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 annualized dividend and a dividend yield of 2.8%. Home BancShares's dividend payout ratio is 36.53%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HOMB. Cantor Fitzgerald began coverage on Home BancShares in a research note on Wednesday, September 10th. They issued a "neutral" rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Wall Street Zen lowered Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Piper Sandler increased their target price on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.00.

Insider Activity

In other news, CEO John W. Allison sold 110,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $27.52, for a total transaction of $664,855.68. Following the sale, the chief executive officer owned 53,308 shares of the company's stock, valued at $1,467,036.16. This trade represents a 31.19% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate 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.