Intech Investment Management LLC Acquires 17,129 Shares of Home BancShares, Inc. $HOMB

Key Points

• Intech Investment Management LLC increased its stake in Home BancShares by 25.3% in Q1, acquiring an additional 17,129 shares, bringing its total holdings to 84,763 shares valued at approximately $2.4 million.
• The company announced a quarterly dividend of $0.20 per share, representing an annualized yield of 2.7%, with a payout ratio of 36.53%.
• Analyst ratings for Home BancShares vary, with three analysts giving a Buy rating and three a Hold rating, while the average consensus price target is set at $33.00.

Intech Investment Management LLC boosted its holdings in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 25.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,763 shares of the financial services provider's stock after acquiring an additional 17,129 shares during the quarter. Intech Investment Management LLC's holdings in Home BancShares were worth $2,396,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Home BancShares during the 1st quarter worth $39,000. Summit Securities Group LLC purchased a new stake in shares of Home BancShares during the first quarter worth about $64,000. GAMMA Investing LLC grew its stake in 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 purchasing an additional 995 shares in the last quarter. UMB Bank n.a. boosted its stake in 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 valued at $75,000 after acquiring an additional 647 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Home BancShares by 60.5% during 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 during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOMB has been the topic of several research reports. Wall Street Zen cut Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Keefe, Bruyette & Woods lifted their price objective 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. Cantor Fitzgerald initiated coverage on shares of Home BancShares in a research report on Wednesday, September 10th. They set a "neutral" rating and a $32.00 price objective on the stock. Finally, Piper Sandler lifted their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Insider Buying and Selling

In other 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 value of $3,302,200.00. Following the sale, the chief executive officer owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. This represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is owned by corporate insiders.

Home BancShares Trading Down 1.6%

Home BancShares stock traded down $0.48 during midday trading on Friday, reaching $29.28. 3,427,513 shares of the stock traded hands, compared to its average volume of 917,270. The company has a 50-day simple moving average of $29.03 and a two-hundred day simple moving average of $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. The firm has a market cap of $5.77 billion, a PE ratio of 13.37 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.

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

Home BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Home BancShares's dividend payout ratio (DPR) is presently 36.53%.

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.