Advisors Asset Management Inc. Lowers Stock 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. lowered its stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 63.0% in the 1st quarter, according to its most recent 13F filing with the Securities & 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 reporting period.

Other hedge funds also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Home BancShares in the 1st quarter valued at $39,000. Summit Securities Group LLC bought a new stake in Home BancShares during the 1st quarter valued at $64,000. GAMMA Investing LLC increased its stake in Home BancShares by 60.8% during the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 995 shares in the last quarter. UMB Bank n.a. increased its stake in Home BancShares by 32.4% during the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 647 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake 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 in the last quarter. Institutional investors own 67.31% of the company's stock.

Insider Activity

In other Home BancShares news, CEO John W. Allison sold 110,000 shares of the company's 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 sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the sale, 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HOMB. Keefe, Bruyette & Woods upped their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Cantor Fitzgerald began 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 for the company. Wall Street Zen lowered shares of Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Piper Sandler upped their target price on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Home BancShares has an average rating of "Moderate Buy" and an average price target of $33.00.

Home BancShares Stock Performance

HOMB traded down $0.51 during trading on Monday, hitting $29.36. 1,339,968 shares of the company traded hands, compared to its average volume of 1,005,819. The firm has a market cap of $5.79 billion, a P/E ratio of 13.41 and a beta of 0.81. The stock's fifty day moving average is $29.05 and its 200 day moving average is $28.38. 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 one year low of $24.22 and a one year high of $32.90.

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

Home BancShares Announces Dividend

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