Quantbot Technologies LP Buys New Shares in Home BancShares, Inc. $HOMB

Key Points

• Quantbot Technologies acquired 99,446 Home BancShares shares worth approximately $2.84 million in the second quarter. Institutional investors and hedge funds collectively own 67.31% of the company.
• Home BancShares exceeded quarterly expectations, reporting $0.64 EPS versus the $0.62 consensus and revenue of $295.1 million, up 8.9% year over year. The company also raised its quarterly dividend from $0.21 to $0.23 per share, producing a 3.0% annualized yield.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $32.83 versus the stock’s $30.28 opening price. CEO John Stephen Tipton separately sold 12,000 shares for about $379,080.

Quantbot Technologies LP purchased a new stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 99,446 shares of the financial services provider's stock, valued at approximately $2,839,000.

Other large investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its stake in shares of Home BancShares by 164.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 674 shares during the period. Root Financial Partners LLC grew its stake in Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock worth $29,000 after purchasing an additional 474 shares during the period. Kestra Advisory Services LLC bought a new stake in Home BancShares in the fourth quarter worth approximately $36,000. Covestor Ltd increased its holdings in Home BancShares by 110.6% in the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider's stock worth $37,000 after purchasing an additional 697 shares in the last quarter. Finally, Binnacle Investments Inc lifted its stake in Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock valued at $38,000 after buying an additional 577 shares during the period. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home BancShares Trading Up 0.0%

Shares of HOMB stock opened at $30.28 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. Home BancShares, Inc. has a 1 year low of $25.50 and a 1 year high of $31.70. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 12.51 and a beta of 0.69. The company's fifty day simple moving average is $29.80 and its two-hundred day simple moving average is $28.23.

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

Home BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a dividend of $0.23 per share. This is a positive change from Home BancShares's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares's dividend payout ratio is 38.02%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HOMB shares. Piper Sandler reiterated an "overweight" rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Keefe, Bruyette & Woods increased their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Stephens increased their price target on Home BancShares from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, Citigroup reiterated a "neutral" rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.83.

Insider Activity at Home BancShares

In other news, CEO John Stephen Tipton sold 12,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the completion of the transaction, the chief executive officer owned 76,308 shares of the company's stock, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.39% of the company's stock.

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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