Tectonic Advisors LLC Raises Stake in Home BancShares, Inc. (NYSE:HOMB)

Tectonic Advisors LLC lifted its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 30.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,687 shares of the financial services provider's stock after purchasing an additional 18,973 shares during the period. Tectonic Advisors LLC's holdings in Home BancShares were worth $2,309,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HOMB. State of Michigan Retirement System grew its position in Home BancShares by 0.9% during the first quarter. State of Michigan Retirement System now owns 44,230 shares of the financial services provider's stock worth $1,250,000 after buying an additional 400 shares in the last quarter. Xponance Inc. lifted its position in shares of Home BancShares by 1.8% during the 1st quarter. Xponance Inc. now owns 26,770 shares of the financial services provider's stock valued at $757,000 after acquiring an additional 476 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Home BancShares by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 51,800 shares of the financial services provider's stock worth $1,464,000 after purchasing an additional 500 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Home BancShares by 48.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,630 shares of the financial services provider's stock worth $46,000 after purchasing an additional 530 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Home BancShares by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 21,657 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 575 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reduced their price objective on shares of Home BancShares from $33.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Stephens reiterated an "overweight" rating and set a $33.00 price target on shares of Home BancShares in a research report on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.40.

Home BancShares Price Performance

Home BancShares stock traded up $0.02 during midday trading on Wednesday, reaching $28.52. The company's stock had a trading volume of 1,593,232 shares, compared to its average volume of 1,004,720. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.63 billion, a PE ratio of 13.58 and a beta of 0.79. Home BancShares, Inc. has a 52 week low of $24.22 and a 52 week high of $32.91. The business has a 50-day moving average price of $28.65 and a 200-day moving average price of $28.55.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.58. Home BancShares had a net margin of 28.44% and a return on equity of 10.49%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, sell-side analysts predict that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from Home BancShares's previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, May 14th. Home BancShares's dividend payout ratio is presently 38.10%.

Insider Activity at Home BancShares

In other news, insider Kevin Hester sold 7,128 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $28.67, for a total value of $204,359.76. Following the completion of the transaction, the insider owned 124,912 shares of the company's stock, valued at $3,581,227.04. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John Stephen Tipton sold 24,159 shares of the business's stock in a transaction 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. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,787 shares of company stock valued at $937,840 in the last 90 days. 6.30% of the stock is owned by corporate 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.