Northern Trust Corp Decreases Holdings 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 cut its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 1.51% of Home BancShares worth $84,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HOMB. Summit Securities Group LLC acquired a new position in shares of Home BancShares in the 1st quarter valued at approximately $64,000. GAMMA Investing LLC increased its position 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 purchasing an additional 995 shares in the last quarter. UMB Bank n.a. increased its position in Home BancShares by 32.4% during the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock worth $75,000 after purchasing an additional 647 shares in the last quarter. Fifth Third Bancorp increased its position in Home BancShares by 60.5% during the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock worth $98,000 after purchasing an additional 1,307 shares in the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in Home BancShares during the 1st quarter worth approximately $203,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction on 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 $1,467,036.16. This represents a 31.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Allison sold 110,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the transaction, the chief executive officer directly owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.

Home BancShares Trading Up 0.0%

Shares of NYSE:HOMB traded up $0.00 during trading on Friday, reaching $29.77. The stock had a trading volume of 311,910 shares, compared to its average volume of 1,004,807. The firm's fifty day moving average is $28.87 and its 200 day moving average is $28.42. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. Home BancShares, Inc. has a 52 week low of $24.22 and a 52 week high of $32.90. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 13.59 and a beta of 0.78.

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 (EPS) 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 net margin of 29.58% and a return on equity of 10.60%. Home BancShares's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th will be paid a dividend of $0.20 per share. 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 is currently 36.53%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HOMB. Piper Sandler upped 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. Wall Street Zen cut shares of Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.20.

About Home BancShares

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.