Great Lakes Advisors LLC Has $3.26 Million Stock Holdings in Home BancShares, Inc. $HOMB

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 holdings in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 15.4% in the first quarter, according to its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of HOMB. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Home BancShares in the first quarter valued at approximately $39,000. Summit Securities Group LLC acquired a new position in shares of Home BancShares during the 1st quarter worth approximately $64,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 995 shares during the period. UMB Bank n.a. raised its stake 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 acquiring an additional 647 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Home BancShares by 60.5% during the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 1,307 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HOMB shares. Keefe, Bruyette & Woods upped their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Piper Sandler lifted their target price on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Cantor Fitzgerald started coverage on shares of Home BancShares in a report on Wednesday. They issued a "neutral" rating and a $32.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three investment 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, Home BancShares currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Insider Buying and Selling at Home BancShares

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

Home BancShares Stock Performance

Shares of HOMB traded up $0.52 during mid-day trading on Friday, hitting $29.91. 1,561,968 shares of the company's stock were exchanged, compared to its average volume of 779,322. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24. Home BancShares, Inc. has a 52 week low of $24.22 and a 52 week high of $32.90. The stock's 50-day simple moving average is $29.05 and its 200-day simple moving average is $28.38. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 13.66 and a beta of 0.81.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, hitting analysts' consensus estimates of $0.58. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.The firm 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 earned $0.52 EPS. The company's revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Home BancShares's payout ratio is currently 36.53%.

About Home BancShares

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.