Home BancShares, Inc. $HOMB Shares Sold by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. reduced its stake in Home BancShares by 46.8% in the first quarter, now holding 496,359 shares after selling 436,240 shares.
• Home BancShares CEO John Stephen Tipton sold 24,159 shares at an average price of $27.52, resulting in a 31.19% decrease in his ownership.
• Home BancShares reported $0.58 earnings per share for the last quarter, meeting analysts' expectations and showing a 6.5% revenue increase year-over-year.

Bahl & Gaynor Inc. lessened its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 46.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 496,359 shares of the financial services provider's stock after selling 436,240 shares during the quarter. Bahl & Gaynor Inc. owned about 0.25% of Home BancShares worth $14,032,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Home BancShares during the 1st quarter worth approximately $41,431,000. Point72 Asset Management L.P. lifted its position in Home BancShares by 1,545.1% during the 4th quarter. Point72 Asset Management L.P. now owns 393,171 shares of the financial services provider's stock worth $11,127,000 after acquiring an additional 369,271 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Home BancShares by 2.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,404,440 shares of the financial services provider's stock worth $237,594,000 after acquiring an additional 196,563 shares during the period. Russell Investments Group Ltd. lifted its position in Home BancShares by 21.4% during the 1st quarter. Russell Investments Group Ltd. now owns 507,233 shares of the financial services provider's stock worth $14,340,000 after acquiring an additional 89,332 shares during the period. Finally, Aptus Capital Advisors LLC lifted its position in Home BancShares by 41.6% during the 4th quarter. Aptus Capital Advisors LLC now owns 265,393 shares of the financial services provider's stock worth $7,511,000 after acquiring an additional 77,956 shares during the period. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Price Performance

NYSE:HOMB traded up $0.09 during mid-day trading on Friday, hitting $29.86. 115,037 shares of the company's stock traded hands, compared to its average volume of 1,003,658. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. The firm's 50 day simple moving average is $28.87 and its 200 day simple moving average is $28.42. Home BancShares, Inc. has a 1 year low of $24.22 and a 1 year high of $32.90. The company has a market cap of $5.88 billion, a PE ratio of 13.63 and a beta of 0.78.

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

Home BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $0.80 annualized dividend and a yield of 2.7%. Home BancShares's payout ratio is 36.53%.

Insider Activity

In other Home BancShares news, CEO John W. Allison sold 110,000 shares of the 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 sale, the chief executive officer owned 5,540,776 shares of the company's stock, valued at $166,334,095.52. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were 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 of the company's stock, valued at $1,467,036.16. This trade represents a 31.19% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on HOMB. 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 upped their price objective on Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Wall Street Zen cut Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.20.

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.