Advisors Asset Management Inc. Trims Position in Home BancShares, Inc. $HOMB

Key Points

• Advisors Asset Management Inc. has reduced its holdings in Home BancShares by 63.0%, now owning 8,687 shares valued at $246,000.
• Home BancShares reported a quarterly earnings per share (EPS) of $0.58, meeting the consensus estimate, with a revenue of $271.03 million—up 6.5% from the previous year.
• The company recently announced a quarterly dividend of $0.20 per share, representing a 2.7% dividend yield with a payout ratio of 36.53%.

Advisors Asset Management Inc. trimmed its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 63.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,687 shares of the financial services provider's stock after selling 14,783 shares during the quarter. Advisors Asset Management Inc.'s holdings in Home BancShares were worth $246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Home BancShares in the 1st quarter worth approximately $39,000. Summit Securities Group LLC purchased a new stake in Home BancShares in the 1st quarter worth approximately $64,000. GAMMA Investing LLC raised its position in shares of Home BancShares by 60.8% in the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock worth $74,000 after buying an additional 995 shares in the last quarter. UMB Bank n.a. raised its position in shares of Home BancShares by 32.4% in the first quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock worth $75,000 after buying an additional 647 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Home BancShares by 60.5% in the first quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock worth $98,000 after buying an additional 1,307 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO John W. Allison sold 110,000 shares of Home BancShares stock in a transaction 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 transaction, the chief executive officer directly owned 5,540,776 shares of the company's stock, valued at $166,334,095.52. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Stephen Tipton sold 24,159 shares of Home BancShares 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 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 ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Home BancShares Price Performance

Shares of HOMB stock traded up $0.15 during trading hours on Wednesday, hitting $29.12. 1,266,659 shares of the company's stock were exchanged, compared to its average volume of 861,825. The company has a market capitalization of $5.74 billion, a PE ratio of 13.30 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 business's 50 day simple moving average is $29.03 and its 200-day simple moving average is $28.38. 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 issued its earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, hitting analysts' consensus estimates of $0.58. The company had revenue of $271.03 million for the quarter, compared to analysts' expectations 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 quarter last year, the company earned $0.52 EPS. On average, equities research analysts anticipate that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th were issued 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%.

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.