Hodges Capital Management Inc. Sells 188,100 Shares of Home BancShares, Inc. $HOMB

Key Points

• Hodges Capital Management Inc. reduced its stake in Home BancShares by 47.8%, now holding 205,100 shares worth approximately $5.80 million.
• CEO John W. Allison recently sold 110,000 shares for over $3.3 million, resulting in a 1.95% decrease in his ownership.
• Home BancShares has received mixed ratings from analysts, with a consensus target price of $33.00 and a current rating of "Moderate Buy."

Hodges Capital Management Inc. lowered its holdings in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 47.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,100 shares of the financial services provider's stock after selling 188,100 shares during the period. Hodges Capital Management Inc. owned about 0.10% of Home BancShares worth $5,798,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HOMB. Baird Financial Group Inc. boosted its stake in Home BancShares by 28.3% during the fourth quarter. Baird Financial Group Inc. now owns 29,503 shares of the financial services provider's stock worth $835,000 after buying an additional 6,503 shares in the last quarter. Deutsche Bank AG boosted its stake in Home BancShares by 45.1% during the fourth quarter. Deutsche Bank AG now owns 158,189 shares of the financial services provider's stock worth $4,477,000 after buying an additional 49,140 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Home BancShares by 2.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 106,099 shares of the financial services provider's stock worth $3,003,000 after buying an additional 2,926 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Home BancShares during the fourth quarter worth $365,000. Finally, Nomura Holdings Inc. acquired a new stake in Home BancShares during the fourth quarter worth $693,000. Institutional investors and hedge funds own 67.31% of the company's stock.

Home BancShares Trading Up 1.7%

Shares of Home BancShares stock traded up $0.49 during trading on Wednesday, hitting $29.46. 145,915 shares of the company were exchanged, compared to its average volume of 999,882. The firm has a market capitalization of $5.81 billion, a P/E ratio of 13.45 and a beta of 0.81. Home BancShares, Inc. has a 1-year low of $24.22 and a 1-year high of $32.90. The firm's fifty day moving average price is $29.04 and its 200 day moving average price is $28.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its earnings results 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. The company had revenue of $271.03 million during the quarter, compared to analyst estimates of $262.56 million. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. As a group, sell-side analysts expect that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Dividend Announcement

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

Insider Activity at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $27.52, for a total value of $664,855.68. Following the completion of the transaction, the chief executive officer directly owned 53,308 shares in the company, valued at approximately $1,467,036.16. The trade was a 31.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Allison sold 110,000 shares of the business'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 value of $3,302,200.00. Following the completion of the transaction, the chief executive officer owned 5,540,776 shares of the company's stock, valued at $166,334,095.52. This 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 currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods lifted their price objective 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 cut Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Cantor Fitzgerald began coverage on Home BancShares in a report on Wednesday, September 10th. They issued a "neutral" rating and a $32.00 price target for the company. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

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.