T. Rowe Price Investment Management Inc. Increases Stake in Home BancShares, Inc. $HOMB

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. raised its holdings in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,404,440 shares of the financial services provider's stock after buying an additional 196,563 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 4.26% of Home BancShares worth $237,594,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Cerity Partners LLC raised its position in shares of Home BancShares by 33.2% in the 4th quarter. Cerity Partners LLC now owns 12,702 shares of the financial services provider's stock valued at $358,000 after purchasing an additional 3,164 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Home BancShares during the 4th quarter valued at approximately $5,656,000. Forum Financial Management LP acquired a new position in Home BancShares during the 4th quarter valued at approximately $208,000. First Trust Advisors LP grew its stake in Home BancShares by 10.9% during the 4th quarter. First Trust Advisors LP now owns 316,095 shares of the financial services provider's stock valued at $8,945,000 after purchasing an additional 31,160 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings 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 worth $192,211,000 after buying an additional 124,891 shares during the period. Hedge funds and other institutional investors own 67.31% of the company's stock.

Analyst Upgrades and Downgrades

HOMB has been the subject of a number of research reports. Piper Sandler boosted their target price on shares of 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 lifted their price objective on 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, Wall Street Zen downgraded Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Home BancShares has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

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 that occurred on Friday, June 20th. The stock was sold at an average price of $27.52, for a total transaction of $664,855.68. Following the completion of the sale, the chief executive officer directly owned 53,308 shares in the company, valued at approximately $1,467,036.16. The trade was a 31.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company's stock.

Home BancShares Price Performance

Shares of HOMB stock traded up $0.36 during trading hours on Tuesday, hitting $30.08. 140,035 shares of the company's stock were exchanged, compared to its average volume of 1,004,952. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $32.90. The firm has a market cap of $5.93 billion, a P/E ratio of 13.73 and a beta of 0.78. 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 50 day moving average of $28.72 and a two-hundred day moving average of $28.40.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $271.03 million during the quarter, compared to analyst estimates 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 was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS. Sell-side analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th will be given 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 36.53%.

Home BancShares 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.