Northern Trust Corp Cuts Stake in Home BancShares, Inc. $HOMB

Key Points

• Northern Trust Corp reduced its stake in Home BancShares by 0.8%, selling 23,035 shares and retaining approximately 2.98 million shares worth about $84.27 million.
• Home BancShares reported a net margin of 29.58% and earnings per share (EPS) of $0.58 for the last quarter, aligning with analyst estimates.
• The company has announced a quarterly dividend of $0.20 per share, representing a 2.7% dividend yield, with an upcoming payment on September 3rd.

Northern Trust Corp lowered its stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,980,924 shares of the financial services provider's stock after selling 23,035 shares during the quarter. Northern Trust Corp owned approximately 1.51% of Home BancShares worth $84,271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in 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 buying an additional 2,096 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Home BancShares by 0.9% during the first quarter. Principal Financial Group Inc. now owns 428,649 shares of the financial services provider's stock worth $12,118,000 after purchasing an additional 4,019 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Home BancShares by 60.8% during 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Home BancShares by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,242,307 shares of the financial services provider's stock worth $63,390,000 after purchasing an additional 75,463 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Home BancShares by 48.0% during the first quarter. Cerity Partners LLC now owns 18,804 shares of the financial services provider's stock worth $532,000 after purchasing an additional 6,102 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Trading Down 0.1%

Shares of HOMB traded down $0.04 during trading hours on Friday, hitting $29.74. The stock had a trading volume of 880,720 shares, compared to its average volume of 813,754. 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 has a market cap of $5.86 billion, a P/E ratio of 13.58 and a beta of 0.78. The company's fifty day simple moving average is $28.91 and its 200 day simple moving average is $28.39. 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 period last year, the company posted $0.52 EPS. Equities research analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Announces Dividend

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

Insider Activity

In other Home BancShares news, CEO John W. Allison sold 110,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total value of $3,302,200.00. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $664,855.68. Following the completion of the transaction, the chief executive officer directly owned 53,308 shares in the company, valued at $1,467,036.16. This trade represents a 31.19% 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler raised 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. Keefe, Bruyette & Woods raised their price objective on Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Finally, Wall Street Zen cut Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.