Inspire Advisors LLC Buys Shares of 23,787 Home BancShares, Inc. (NYSE:HOMB)

Key Points

• Inspire Advisors LLC has made a new investment in Home BancShares, acquiring 23,787 shares valued at approximately $672,000 in the first quarter.
• CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock for around $664,855, which reduced his ownership by 31.19%.
• Home BancShares reported $0.58 EPS for the quarter, meeting estimates, and had a revenue of $271.03 million, up 6.5% year-over-year.

Inspire Advisors LLC purchased a new position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,787 shares of the financial services provider's stock, valued at approximately $672,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of Home BancShares by 12.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,451 shares of the financial services provider's stock valued at $522,000 after acquiring an additional 2,096 shares during the period. Principal Financial Group Inc. grew its holdings in Home BancShares by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 428,649 shares of the financial services provider's stock worth $12,118,000 after acquiring an additional 4,019 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 worth $74,000 after acquiring an additional 995 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Home BancShares by 48.0% in the 1st 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 in the last quarter. Finally, Vest Financial LLC acquired a new position in shares of Home BancShares in the 1st quarter valued at $1,691,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home BancShares Trading Down 0.2%

NYSE HOMB traded down $0.07 during mid-day trading on Thursday, hitting $28.27. The company's stock had a trading volume of 282,493 shares, compared to its average volume of 1,031,062. The firm has a market capitalization of $5.58 billion, a P/E ratio of 12.91 and a beta of 0.79. The stock's fifty day simple moving average is $28.66 and its two-hundred day simple moving average is $28.63. Home BancShares, Inc. has a 52-week low of $24.22 and a 52-week high of $32.90. 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 (NYSE:HOMB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.58. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The company had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. During the same quarter last year, the firm posted $0.52 earnings per share. The business's quarterly revenue was up 6.5% on a year-over-year basis. Research analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, August 13th. Home BancShares's payout ratio is currently 36.53%.

Analysts Set New Price Targets

Several research firms recently commented on HOMB. Stephens reiterated an "overweight" rating and issued a $33.00 price target on shares of Home BancShares in a research report on Monday, April 21st. Keefe, Bruyette & Woods increased their price target on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Wall Street Zen raised shares of Home BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Piper Sandler increased 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. Finally, Royal Bank Of Canada decreased their price target on shares of Home BancShares from $33.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Home BancShares presently has an average rating of "Moderate Buy" and a consensus price target of $33.20.

Insiders Place Their Bets

In other Home BancShares news, insider Kevin Hester sold 7,128 shares of Home BancShares stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $28.67, for a total value of $204,359.76. Following the completion of the transaction, the insider owned 124,912 shares of the company's stock, valued at $3,581,227.04. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 of the company's stock, valued at approximately $1,467,036.16. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.30% of the company's stock.

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.