Susquehanna Fundamental Investments LLC Lowers Stock Holdings in Home BancShares, Inc. $HOMB

Key Points

• Susquehanna Fundamental Investments cut its Home BancShares stake by 22% in the second quarter, selling 43,933 shares and retaining 155,904 shares valued at approximately $4.45 million. Institutional investors collectively own 67.31% of HOMB.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a consensus price target of $32.83; several firms recently raised their targets to between $32 and $36.
• Home BancShares exceeded quarterly earnings and revenue expectations, reporting $0.64 EPS and $295.1 million in revenue, while increasing its quarterly dividend from $0.21 to $0.23 per share, equivalent to a 3.1% yield.

Susquehanna Fundamental Investments LLC lessened its position in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 22.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 155,904 shares of the financial services provider's stock after selling 43,933 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.08% of Home BancShares worth $4,451,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HOMB. BlackRock Inc. purchased a new stake in shares of Home BancShares in the 2nd quarter valued at approximately $735,643,000. Norges Bank acquired a new position in shares of Home BancShares during the fourth quarter worth $66,673,000. Azora Capital LP acquired a new stake in Home BancShares in the second quarter valued at $62,027,000. Bank of New York Mellon Corp acquired a new position in shares of Home BancShares during the 2nd quarter worth about $44,068,000. Finally, First Trust Advisors LP raised its position in shares of Home BancShares by 37.3% during the 4th quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider's stock worth $85,031,000 after acquiring an additional 830,823 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HOMB. Wall Street Zen raised Home BancShares from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Keefe, Bruyette & Woods increased their target price on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday, July 17th. Piper Sandler reissued an "overweight" rating and issued a $36.00 price target (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Weiss Ratings upgraded shares of Home BancShares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, Stephens lifted their target price on Home BancShares from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.83.

Insider Activity

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

Home BancShares Stock Performance

NYSE:HOMB opened at $29.48 on Tuesday. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $31.70. The firm's fifty day moving average price is $30.04 and its 200 day moving average price is $28.22. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 12.18 and a beta of 0.69. 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 (NYSE:HOMB - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $288.70 million. During the same period in the prior year, the business posted $0.58 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts expect that Home BancShares, Inc. will post 2.51 EPS for the current year.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. This is a boost from Home BancShares's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares's payout ratio is currently 38.02%.

About Home BancShares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source