UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $8.03 Million Stock Position in Home BancShares, Inc. $HOMB

Key Points

• UBS Asset Management cut its Home BancShares stake by 14.2% in the second quarter, selling 46,559 shares and retaining 281,239 shares valued at approximately $8.03 million.
• Analysts maintain a generally positive outlook, with Home BancShares receiving a consensus “Moderate Buy” rating and an average price target of $32.83. The company also exceeded quarterly earnings and revenue expectations.
• Home BancShares raised its quarterly dividend to $0.23 per share, equivalent to an annualized $0.92 dividend and a 3.1% yield; meanwhile, CEO John Tipton sold 12,000 shares worth $379,080.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,239 shares of the financial services provider's stock after selling 46,559 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.14% of Home BancShares worth $8,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOMB. Root Financial Partners LLC increased its position in shares of Home BancShares by 76.9% in the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock worth $29,000 after acquiring an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 674 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Home BancShares in the 4th quarter valued at approximately $36,000. Covestor Ltd lifted its position in shares of Home BancShares by 110.6% in the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 697 shares in the last quarter. Finally, Binnacle Investments Inc boosted its stake in Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock worth $38,000 after purchasing an additional 577 shares during the period. Institutional investors and hedge funds own 67.31% of the company's stock.

Insider Buying and Selling at Home BancShares

In related news, CEO John Tipton sold 12,000 shares of Home BancShares 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HOMB. Citigroup reiterated a "neutral" rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods increased their target price on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Friday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $31.00 target price (up from $30.00) on shares of Home BancShares in a research report on Wednesday, August 19th. Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Finally, Weiss Ratings raised Home BancShares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.83.

Home BancShares Stock Up 0.0%

Shares of Home BancShares stock opened at $30.16 on Tuesday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 12.46 and a beta of 0.67. The stock has a 50-day simple moving average of $30.15 and a 200-day simple moving average of $28.23. Home BancShares, Inc. has a 52-week low of $25.50 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.The firm's revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 earnings per share. On average, equities research analysts expect that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 12th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Home BancShares's previous quarterly dividend of $0.21. Home BancShares's 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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