TMB Capital Partners LLC Acquires New Holdings in Home BancShares, Inc. $HOMB

Key Points

• TMB Capital Partners disclosed a new fourth-quarter stake in Home BancShares, buying 66,575 shares worth about $1.85 million. Several other hedge funds also increased or initiated positions, and institutional investors now own 67.31% of the stock.
• Insider activity was mixed: CEO John W. Allison bought 100,000 shares for about $2.7 million, while CAO Jennifer C. Floyd sold 3,000 shares. Insiders overall own 6.39% of the company.
• Home BancShares reported quarterly EPS of $0.60, matching analyst estimates, and paid a quarterly dividend of $0.21 per share for a 3.0% annualized yield. Wall Street’s consensus rating remains Hold, with an average price target of $31.20.

TMB Capital Partners LLC bought a new stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 66,575 shares of the financial services provider's stock, valued at approximately $1,849,000.

Other hedge funds also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Home BancShares by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider's stock valued at $12,453,000 after purchasing an additional 15,259 shares during the last quarter. Jane Street Group LLC increased its position in Home BancShares by 82.7% during the first quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider's stock worth $7,826,000 after buying an additional 125,301 shares during the last quarter. Baird Financial Group Inc. increased its position in Home BancShares by 13.2% during the second quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider's stock worth $612,000 after buying an additional 2,500 shares during the last quarter. Marshall Wace LLP bought a new position in Home BancShares during the second quarter valued at about $1,015,000. Finally, Jump Financial LLC bought a new position in Home BancShares during the second quarter valued at about $230,000. Institutional investors and hedge funds own 67.31% of the company's stock.

Insiders Place Their Bets

In related news, CEO John W. Allison purchased 100,000 shares of the firm's stock in a transaction on Friday, April 17th. The shares were bought at an average cost of $26.96 per share, for a total transaction of $2,696,000.00. Following the transaction, the chief executive officer directly owned 5,798,926 shares of the company's stock, valued at approximately $156,339,044.96. This trade represents a 1.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer C. Floyd sold 3,000 shares of the business's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total transaction of $81,330.00. Following the transaction, the chief accounting officer owned 4,635 shares in the company, valued at approximately $125,654.85. The trade was a 39.29% decrease in their position. The SEC filing for this sale provides additional information. 6.39% of the stock is owned by corporate insiders.

Home BancShares Stock Performance

HOMB opened at $27.68 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average price is $26.97 and its two-hundred day moving average price is $27.76. The firm has a market capitalization of $5.57 billion, a P/E ratio of 11.39 and a beta of 0.68. Home BancShares, Inc. has a 12-month low of $25.50 and a 12-month high of $30.83.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.60 EPS for the quarter, hitting analysts' consensus estimates of $0.60. Home BancShares had a return on equity of 11.11% and a net margin of 32.48%.The company had revenue of $266.71 million during the quarter, compared to analyst estimates of $274.06 million. During the same period in the previous year, the company earned $0.56 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Home BancShares, Inc. will post 2.48 earnings per share for the current year.

Home BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.0%. Home BancShares's dividend payout ratio is 34.57%.

Wall Street Analysts Forecast Growth

HOMB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Home BancShares from $32.00 to $30.00 and set a "market perform" rating for the company in a research note on Monday, April 20th. Cantor Fitzgerald reiterated a "neutral" rating and set a $30.00 price target (down from $31.00) on shares of Home BancShares in a report on Tuesday, May 19th. Zacks Research lowered shares of Home BancShares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Stephens reduced their price objective on shares of Home BancShares from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. Finally, Weiss Ratings lowered shares of Home BancShares from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $31.20.

About Home BancShares

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.

Want to see what other hedge funds are holding HOMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home BancShares, Inc. (NYSE:HOMB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.