Odyssean LLC Has $3 Million Stock Position in Home BancShares, Inc. $HOMB

Key Points

• Odyssean LLC nearly doubled its Home BancShares position in the second quarter, increasing holdings by 93.8% to 105,232 shares valued at approximately $3 million. Institutional investors collectively own 67.31% of the company.
• Home BancShares exceeded quarterly earnings expectations, reporting $0.64 in EPS on $295.1 million in revenue, with revenue up 8.9% year over year. The company also raised its quarterly dividend to $0.23, representing a 3.1% annual yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $32.83 versus the stock’s reported price of $30.16.

Odyssean LLC grew its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 93.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,232 shares of the financial services provider's stock after buying an additional 50,943 shares during the quarter. Odyssean LLC owned approximately 0.05% of Home BancShares worth $3,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Home BancShares during the 2nd quarter valued at $735,643,000. Dimensional Fund Advisors LP boosted its stake in Home BancShares by 9.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,491 shares of the financial services provider's stock worth $180,979,000 after purchasing an additional 559,603 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Home BancShares by 4.5% during the fourth quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider's stock worth $155,242,000 after purchasing an additional 238,548 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Home BancShares by 13.4% in the first quarter. First Trust Advisors LP now owns 3,471,607 shares of the financial services provider's stock valued at $93,490,000 after buying an additional 410,719 shares in the last quarter. Finally, Nuveen LLC increased its stake in shares of Home BancShares by 8.4% in the fourth quarter. Nuveen LLC now owns 2,776,469 shares of the financial services provider's stock valued at $77,130,000 after buying an additional 215,940 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Home BancShares Price Performance

Home BancShares stock opened at $30.16 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $6.03 billion, a P/E ratio of 12.46 and a beta of 0.67. The business has a 50-day moving average of $30.12 and a 200-day moving average of $28.24. Home BancShares, Inc. has a 1 year low of $25.50 and a 1 year high of $31.70.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $295.10 million for the quarter, compared to analyst estimates of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. Home BancShares's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. On average, equities analysts anticipate that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.1%. This is a boost from Home BancShares's previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 12th. Home BancShares's dividend payout ratio (DPR) is 38.02%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HOMB shares. Wall Street Zen raised shares of Home BancShares from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Cantor Fitzgerald reissued an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of Home BancShares in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods raised 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 Friday, July 17th. Benchmark assumed coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They issued a "hold" rating for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Home BancShares currently has a consensus rating of "Moderate Buy" and an average target price of $32.83.

Insider Buying and Selling at Home BancShares

In other news, CEO John Tipton sold 12,000 shares of Home BancShares stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total transaction of $379,080.00. Following the transaction, the chief executive officer directly owned 76,308 shares of the company's stock, valued at $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.39% of the stock is currently owned by corporate insiders.

Home BancShares Profile

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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