Home BancShares, Inc. $HOMB Holdings Increased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Home BancShares by 2.4%, bringing its total to approximately 8.4 million shares valued at $237.59 million.
• Analysts have mixed views on Home BancShares, with a recent price target increase from Keefe, Bruyette & Woods to $32.00, while Wall Street Zen downgraded the stock to a "sell" rating.
• Home BancShares announced a quarterly dividend of $0.20 per share, which reflects an annualized yield of 2.8% and signals ongoing profitability.

T. Rowe Price Investment Management Inc. increased its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,404,440 shares of the financial services provider's stock after acquiring an additional 196,563 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 4.26% of Home BancShares worth $237,594,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of HOMB. Nuveen LLC acquired a new stake in Home BancShares during the first quarter worth approximately $41,431,000. Point72 Asset Management L.P. raised its stake in Home BancShares by 1,545.1% during the fourth quarter. Point72 Asset Management L.P. now owns 393,171 shares of the financial services provider's stock worth $11,127,000 after purchasing an additional 369,271 shares during the period. Raymond James Financial Inc. purchased a new position in Home BancShares during the fourth quarter worth approximately $5,656,000. Dimensional Fund Advisors LP raised its stake in Home BancShares by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,791,837 shares of the financial services provider's stock worth $192,211,000 after purchasing an additional 124,891 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Home BancShares by 21.4% during the first quarter. Russell Investments Group Ltd. now owns 507,233 shares of the financial services provider's stock worth $14,340,000 after purchasing an additional 89,332 shares during the period. Institutional investors and hedge funds own 67.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HOMB shares. Wall Street Zen downgraded shares of Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Piper Sandler increased 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. Finally, Keefe, Bruyette & Woods increased 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 note on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Insider Activity at Home BancShares

In other news, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $27.52, for a total value of $664,855.68. Following the transaction, the chief executive officer owned 53,308 shares of the company's stock, valued at approximately $1,467,036.16. This trade 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. Corporate insiders own 6.30% of the company's stock.

Home BancShares Trading Up 4.8%

Shares of HOMB stock traded up $1.3820 during mid-day trading on Friday, reaching $29.9820. The company's stock had a trading volume of 1,321,575 shares, compared to its average volume of 805,472. The company's 50 day simple moving average is $28.68 and its 200-day simple moving average is $28.43. Home BancShares, Inc. has a 12-month low of $24.22 and a 12-month 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. The firm has a market capitalization of $5.91 billion, a PE ratio of 13.69 and a beta of 0.78.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, meeting analysts' consensus estimates of $0.58. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The business had revenue of $271.03 million for the quarter, compared to the consensus estimate of $262.56 million. During the same quarter last year, the firm posted $0.52 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts predict that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Home BancShares's dividend payout ratio (DPR) is currently 36.53%.

About Home BancShares

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.