Raymond James Financial Inc. Sells 13,867 Shares of Home BancShares, Inc. $HOMB

Key Points

• Raymond James Financial Inc. reduced its stake in Home BancShares by 6.9%, selling 13,867 shares in the 1st quarter, resulting in ownership of 0.09% of the company valued at approximately $5.26 million.
• Several institutional investors, including GAMMA Investing LLC and Fifth Third Bancorp, increased their holdings in Home BancShares, with institutional investors now owning 67.31% of the stock.
• Home BancShares declared a quarterly dividend of $0.20, providing a dividend yield of 2.7%, with the next earnings report estimated at $2.19 earnings per share for the current year.

Raymond James Financial Inc. reduced its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185,978 shares of the financial services provider's stock after selling 13,867 shares during the quarter. Raymond James Financial Inc. owned about 0.09% of Home BancShares worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Home BancShares by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 995 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Home BancShares by 32.4% in the first quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock worth $75,000 after buying an additional 647 shares during the period. Fifth Third Bancorp raised its holdings in shares of Home BancShares by 60.5% during the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock valued at $98,000 after buying an additional 1,307 shares during the period. Hohimer Wealth Management LLC acquired a new position in Home BancShares during the 1st quarter worth approximately $203,000. Finally, Forum Financial Management LP purchased a new position in Home BancShares in the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 67.31% of the company's stock.

Wall Street Analysts Forecast Growth

HOMB has been the topic of several recent analyst reports. Wall Street Zen cut Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Piper Sandler upped their target price on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods raised their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Finally, Cantor Fitzgerald assumed coverage on shares of Home BancShares in a research note on Wednesday. They issued a "neutral" rating and a $32.00 price target for the company. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Home BancShares Stock Performance

HOMB stock traded up $0.25 during midday trading on Wednesday, reaching $29.47. The company had a trading volume of 934,068 shares, compared to its average volume of 768,271. The firm has a market capitalization of $5.81 billion, a PE ratio of 13.45 and a beta of 0.81. The stock has a 50 day moving average price of $29.06 and a 200 day moving average price of $28.38. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $32.90. 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 announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The company had revenue of $271.03 million during the quarter, compared to the consensus estimate of $262.56 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts anticipate that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th were issued a $0.20 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. Home BancShares's dividend payout ratio is currently 36.53%.

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $27.52, for a total value of $664,855.68. Following the completion of the sale, the chief executive officer owned 53,308 shares of the company's stock, valued at $1,467,036.16. The trade was a 31.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Allison sold 110,000 shares of Home BancShares 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 completion of the transaction, the chief executive officer owned 5,540,776 shares in the company, valued at $166,334,095.52. The trade was 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 currently owned by company insiders.

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.