Russell Investments Group Ltd. Increases Stake in Home BancShares, Inc. $HOMB

Russell Investments Group Ltd. lifted its stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 507,233 shares of the financial services provider's stock after purchasing an additional 89,332 shares during the quarter. Russell Investments Group Ltd. owned about 0.26% of Home BancShares worth $14,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in Home BancShares in the 1st quarter valued at about $41,431,000. Point72 Asset Management L.P. grew its stake in Home BancShares by 1,545.1% in the 4th quarter. Point72 Asset Management L.P. now owns 393,171 shares of the financial services provider's stock valued at $11,127,000 after acquiring an additional 369,271 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Home BancShares in the 4th quarter valued at about $5,656,000. Dimensional Fund Advisors LP grew its stake in Home BancShares by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,791,837 shares of the financial services provider's stock valued at $192,211,000 after acquiring an additional 124,891 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Home BancShares by 36.2% in the 4th quarter. Invesco Ltd. now owns 426,359 shares of the financial services provider's stock valued at $12,066,000 after acquiring an additional 113,371 shares during the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOMB has been the topic of a number of research reports. Wall Street Zen cut shares of Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Keefe, Bruyette & Woods increased their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Finally, Piper Sandler raised their price target on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Insider Buying and Selling at Home BancShares

In other news, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction dated 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 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 SEC, which is available at this link. 6.30% of the stock is currently owned by insiders.

Home BancShares Trading Up 3.8%

Shares of Home BancShares stock traded up $1.0990 during mid-day trading on Friday, hitting $29.6990. 400,659 shares of the stock were exchanged, compared to its average volume of 1,006,677. Home BancShares, Inc. has a twelve month low of $24.22 and a twelve month high of $32.90. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 13.56 and a beta of 0.78. The company has a 50-day simple moving average of $28.63 and a 200 day simple moving average of $28.45. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly 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 company had revenue of $271.03 million for the quarter, compared to analysts' expectations 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 for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. Research analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, August 13th. Home BancShares's dividend payout ratio is presently 36.53%.

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.