The Manufacturers Life Insurance Company Buys New Shares in Home BancShares, Inc. $HOMB

Key Points

• The Manufacturers Life Insurance Company acquired 178,351 Home BancShares shares worth approximately $5.1 million, while institutional investors and hedge funds collectively own 67.31% of the stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $32.83, above the stock’s reported $29.48 price.
• Home BancShares exceeded quarterly earnings and revenue estimates, reporting $0.64 EPS and $295.1 million in revenue; it also raised its quarterly dividend to $0.23, equivalent to a 3.1% annual yield.

The Manufacturers Life Insurance Company purchased a new stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 178,351 shares of the financial services provider's stock, valued at approximately $5,092,000. The Manufacturers Life Insurance Company owned about 0.09% of Home BancShares as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of HOMB. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Home BancShares by 0.8% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 52,582 shares of the financial services provider's stock worth $1,461,000 after purchasing an additional 410 shares during the period. Quadrant Capital Group LLC increased its holdings in Home BancShares by 4.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,360 shares of the financial services provider's stock worth $293,000 after buying an additional 425 shares during the period. Villanova Investment Management Co LLC raised its position in Home BancShares by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 114,093 shares of the financial services provider's stock worth $3,170,000 after buying an additional 468 shares during the last quarter. Root Financial Partners LLC raised its position in Home BancShares by 76.9% during the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock worth $29,000 after buying an additional 474 shares during the last quarter. Finally, DRW Securities LLC lifted its stake in Home BancShares by 2.8% during the 4th quarter. DRW Securities LLC now owns 19,495 shares of the financial services provider's stock valued at $542,000 after acquiring an additional 524 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Home BancShares

In related news, CEO John Stephen Tipton sold 12,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the sale, the chief executive officer owned 76,308 shares of the company's stock, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HOMB. Citigroup reaffirmed a "neutral" rating and issued a $32.00 price objective (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Cantor Fitzgerald restated an "overweight" rating and set a $31.00 target price (up from $30.00) on shares of Home BancShares in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods upped their price target on shares of Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Friday, July 17th. Wall Street Zen raised Home BancShares from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Finally, Stephens lifted their price objective on Home BancShares from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.83.

Home BancShares Stock Performance

NYSE HOMB opened at $29.48 on Tuesday. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 12.18 and a beta of 0.69. The stock has a 50-day moving average of $30.04 and a 200 day moving average of $28.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. Home BancShares, Inc. has a twelve month low of $25.50 and a twelve month high of $31.70.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $295.10 million for the quarter, compared to analyst estimates of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.Home BancShares's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. Sell-side analysts anticipate that Home BancShares, Inc. will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

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

Home BancShares Company Profile

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.

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