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

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Home BancShares by 12.8% during 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 buying an additional 2,096 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Home BancShares by 0.9% during 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 buying an additional 4,019 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Home BancShares by 60.8% during the first 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Home BancShares by 3.5% during 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 buying an additional 75,463 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Home BancShares by 48.0% during the first quarter. Cerity Partners LLC now owns 18,804 shares of the financial services provider's stock valued at $532,000 after buying an additional 6,102 shares during the last quarter. Institutional investors own 67.31% of the company's stock.

Insider Buying and Selling at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction on Friday, June 20th. The shares were sold at an average price of $27.52, for a total value of $664,855.68. Following the transaction, the chief executive officer owned 53,308 shares in the company, valued at $1,467,036.16. This trade represents a 31.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John W. Allison sold 110,000 shares of Home BancShares stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the completion of the transaction, the chief executive officer owned 5,540,776 shares in the company, valued at $166,334,095.52. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

Home BancShares Stock Down 1.7%

Shares of HOMB stock traded down $0.51 on Monday, hitting $29.36. The company's stock had a trading volume of 1,339,968 shares, compared to its average volume of 1,005,820. 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, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $32.90. The firm's fifty day moving average price is $29.05 and its 200-day moving average price is $28.38. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 13.41 and a beta of 0.81.

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

Home BancShares Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HOMB shares. Cantor Fitzgerald started coverage on shares of Home BancShares in a research note on Wednesday, September 10th. They set a "neutral" rating and a $32.00 price objective on the stock. Wall Street Zen lowered shares of Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. 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 note on Monday, July 21st. Finally, 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 note on Friday, July 18th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Home BancShares has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Home BancShares 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.