Tectonic Advisors LLC Acquires 18,973 Shares of Home BancShares, Inc. (NYSE:HOMB)

Tectonic Advisors LLC increased its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,687 shares of the financial services provider's stock after buying 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 reporting period.

Several other large investors have also modified their holdings of HOMB. Hohimer Wealth Management LLC bought a new stake in Home BancShares in the 1st quarter valued at $203,000. Edgestream Partners L.P. boosted its holdings in Home BancShares by 134.0% in the 1st quarter. Edgestream Partners L.P. now owns 65,328 shares of the financial services provider's stock valued at $1,847,000 after purchasing an additional 37,405 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Home BancShares by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 51,800 shares of the financial services provider's stock valued at $1,464,000 after purchasing an additional 500 shares during the period. Xponance Inc. boosted its holdings in Home BancShares by 1.8% in the 1st quarter. Xponance Inc. now owns 26,770 shares of the financial services provider's stock valued at $757,000 after purchasing an additional 476 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Home BancShares by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 44,230 shares of the financial services provider's stock valued at $1,250,000 after purchasing an additional 400 shares during the period. 67.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Home BancShares

In other news, insider Kevin Hester sold 7,128 shares of Home BancShares stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $28.67, for a total value of $204,359.76. Following the sale, the insider directly owned 124,912 shares in the company, valued at $3,581,227.04. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction that occurred on Friday, June 20th. The shares were 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 owned 53,308 shares in the company, valued at $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,787 shares of company stock valued at $937,840. 6.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on HOMB shares. Wall Street Zen raised shares of Home BancShares from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Stephens restated an "overweight" rating and issued a $33.00 price objective on shares of Home BancShares in a research report on Monday, April 21st. Royal Bank Of Canada lowered their price objective on shares of Home BancShares from $33.00 to $31.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler raised their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Home BancShares currently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Home BancShares Trading Up 3.6%

Shares of NYSE HOMB traded up $1.05 during mid-day trading on Friday, hitting $30.18. The company's stock had a trading volume of 2,002,187 shares, compared to its average volume of 1,009,485. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 13.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. Home BancShares, Inc. has a one year low of $24.22 and a one year high of $32.91. The company's fifty day simple moving average is $28.65 and its 200-day simple moving average is $28.55.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share 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 10.67%. The firm had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The business's revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Home BancShares's previous quarterly dividend of $0.20. Home BancShares's payout ratio is presently 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.