Millennium Capital Advisors LLC Takes Position in Home BancShares, Inc. $HOMB

Key Points

• Millennium Capital Advisors initiated a new position in Home BancShares, buying 52,194 shares worth about $1.45 million in the fourth quarter, making HOMB its 26th-largest holding.
• Home BancShares reported Q1 earnings of $0.60 per share, matching Wall Street expectations, while revenue came in at $266.71 million, slightly below forecasts but up 2.5% year over year.
• The bank declared a quarterly dividend of $0.21 per share to be paid June 3, implying an annualized yield of 3.3%; meanwhile, analysts currently rate the stock a consensus Moderate Buy with a $31.40 target price.

Millennium Capital Advisors LLC bought a new stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 52,194 shares of the financial services provider's stock, valued at approximately $1,450,000. Home BancShares makes up about 0.9% of Millennium Capital Advisors LLC's holdings, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HOMB. Quadrant Capital Group LLC grew its position in Home BancShares by 4.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,360 shares of the financial services provider's stock valued at $293,000 after acquiring an additional 425 shares in the last quarter. Inspire Advisors LLC grew its position in Home BancShares by 1.8% in the 3rd quarter. Inspire Advisors LLC now owns 24,720 shares of the financial services provider's stock valued at $700,000 after acquiring an additional 435 shares in the last quarter. Arizona State Retirement System grew its position in Home BancShares by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 55,511 shares of the financial services provider's stock valued at $1,571,000 after acquiring an additional 463 shares in the last quarter. Binnacle Investments Inc grew its position in Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 577 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Home BancShares by 2.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,407 shares of the financial services provider's stock valued at $678,000 after acquiring an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Stock Performance

Shares of HOMB opened at $25.65 on Friday. The stock has a 50-day simple moving average of $26.83 and a 200-day simple moving average of $27.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $5.17 billion, a PE ratio of 10.56 and a beta of 0.69. Home BancShares, Inc. has a 1 year low of $25.50 and a 1 year high of $30.83.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $266.71 million during the quarter, compared to analysts' expectations of $274.06 million. Home BancShares had a return on equity of 11.11% and a net margin of 32.48%.The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, analysts predict that Home BancShares, Inc. will post 2.48 earnings per share for the current fiscal year.

Home BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Home BancShares's dividend payout ratio is 34.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HOMB shares. Cantor Fitzgerald decreased their price objective on Home BancShares from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Zacks Research cut Home BancShares from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Keefe, Bruyette & Woods decreased their price objective on Home BancShares from $32.00 to $30.00 and set a "market perform" rating for the company in a research note on Monday, April 20th. Stephens decreased their price objective on Home BancShares from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. Finally, Wall Street Zen cut Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.40.

Insider Activity at Home BancShares

In related news, Director John W. Allison II sold 5,000 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the transaction, the director directly owned 651,995 shares of the company's stock, valued at $18,379,739.05. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer C. Floyd sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total value of $81,330.00. Following the completion of the transaction, the chief accounting officer directly owned 4,635 shares of the company's stock, valued at $125,654.85. This trade represents a 39.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.39% of the stock is currently owned by corporate insiders.

About Home BancShares

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company's core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.

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