Nuveen LLC Makes New $41.43 Million Investment in Home BancShares, Inc. $HOMB

Key Points

• Nuveen LLC acquired a new position in Home BancShares, purchasing 1,465,534 shares valued at approximately $41.4 million, representing about 0.74% of the company.
• CEO John Stephen Tipton sold 24,159 shares at an average price of $27.52, resulting in a 31.19% decrease in his ownership.
• Home BancShares announced a quarterly dividend of $0.20 per share, with a yield of 2.8%, alongside positive earnings meeting consensus estimates with a 6.5% revenue increase year-over-year.

Nuveen LLC bought a new stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,465,534 shares of the financial services provider's stock, valued at approximately $41,431,000. Nuveen LLC owned approximately 0.74% of Home BancShares as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of HOMB. Wells Fargo & Company MN lifted its stake in shares of Home BancShares by 21.1% during the 4th quarter. Wells Fargo & Company MN now owns 170,770 shares of the financial services provider's stock valued at $4,833,000 after buying an additional 29,718 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Home BancShares by 33.2% during the 4th quarter. Cerity Partners LLC now owns 12,702 shares of the financial services provider's stock valued at $358,000 after buying an additional 3,164 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Home BancShares by 17.9% during the 4th quarter. Bank of Montreal Can now owns 20,913 shares of the financial services provider's stock valued at $592,000 after buying an additional 3,175 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Home BancShares by 36.2% during the 4th quarter. Invesco Ltd. now owns 426,359 shares of the financial services provider's stock valued at $12,066,000 after buying an additional 113,371 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Home BancShares during the 4th quarter valued at $5,656,000. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Trading Down 0.7%

NYSE:HOMB traded down $0.1960 during mid-day trading on Thursday, hitting $28.5640. 394,457 shares of the stock traded hands, compared to its average volume of 863,609. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 13.04 and a beta of 0.78. Home BancShares, Inc. has a 52 week low of $24.22 and a 52 week high of $32.90. The firm's 50 day moving average is $28.63 and its two-hundred day moving average is $28.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The company had revenue of $271.03 million for the quarter, compared to the consensus estimate of $262.56 million. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities research analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, August 13th. Home BancShares's dividend payout ratio is currently 36.53%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HOMB. Keefe, Bruyette & Woods lifted 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. Piper Sandler lifted their price target on shares of Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Wall Street Zen downgraded shares of Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.20.

Insider Buying and Selling

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the company'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 transaction, the chief executive officer directly owned 53,308 shares in the company, valued at $1,467,036.16. This represents a 31.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is owned by corporate insiders.

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.