Baird Financial Group Inc. Sells 10,503 Shares of Home BancShares, Inc. $HOMB

Key Points

• Baird Financial Group Inc. reduced its stake in Home BancShares, Inc. by 35.6%, selling over 10,503 shares, leaving it with a total ownership of 19,000 shares worth approximately $537,000.
• Analyst ratings for Home BancShares range from a "sell" from Wall Street Zen to "overweight" from Piper Sandler, with an average price target of $33.00.
• Home BancShares declared a quarterly dividend of $0.20 per share, resulting in an annual yield of 2.7% and a payout ratio of 36.53%.

Baird Financial Group Inc. reduced its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 35.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,000 shares of the financial services provider's stock after selling 10,503 shares during the period. Baird Financial Group Inc.'s holdings in Home BancShares were worth $537,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HOMB. Nuveen LLC bought a new position in shares of Home BancShares in the first quarter valued at about $41,431,000. Point72 Asset Management L.P. raised its stake in shares of Home BancShares by 1,545.1% in the fourth 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 last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Home BancShares by 2.4% during the first 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 purchasing an additional 196,563 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Home BancShares during the first quarter worth approximately $2,638,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Home BancShares by 21.4% during the first quarter. Russell Investments Group Ltd. now owns 507,233 shares of the financial services provider's stock valued at $14,340,000 after purchasing an additional 89,332 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen cut Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Piper Sandler upped their target price on shares of Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods lifted their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Finally, Cantor Fitzgerald began coverage on shares of Home BancShares in a research note on Wednesday, September 10th. They set a "neutral" rating and a $32.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Home BancShares Stock Down 1.5%

Shares of Home BancShares stock traded down $0.45 on Tuesday, hitting $28.93. The company had a trading volume of 830,844 shares, compared to its average volume of 855,853. The stock has a 50-day moving average of $29.04 and a 200-day moving average of $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, Inc. has a twelve month low of $24.22 and a twelve month high of $32.90. The firm has a market capitalization of $5.70 billion, a P/E ratio of 13.21 and a beta of 0.81.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.The firm had revenue of $271.03 million during the quarter, compared to the consensus estimate of $262.56 million. During the same period last year, the company earned $0.52 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. Research analysts predict 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. Shareholders of record on Wednesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.80 annualized dividend and a yield of 2.8%. Home BancShares's dividend payout ratio (DPR) is 36.53%.

Insider Activity at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $27.52, for a total transaction of $664,855.68. Following the transaction, the chief executive officer directly owned 53,308 shares of the company's stock, valued at approximately $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief executive officer owned 5,540,776 shares of the company's stock, valued at approximately $166,334,095.52. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

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.