Vanguard Group Inc. Sells 255,763 Shares of Home BancShares, Inc. (NYSE:HOMB)

Key Points

• Vanguard Group Inc. decreased its holdings in Home BancShares by 1.3%, owning 20,036,217 shares, which amounts to 10.09% of the company, valued at approximately $566 million.
• Home BancShares announced a quarterly dividend of $0.20, with an annualized basis of $0.80 and a yield of 2.8%, payable on September 3rd to stockholders of record on August 13th.
• Despite a 6.5% year-over-year revenue increase of $271.03 million for the quarter, the company reported a return on equity of 10.60% and is projected to post an EPS of 2.19 for the current year.

Vanguard Group Inc. lessened its stake in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,036,217 shares of the financial services provider's stock after selling 255,763 shares during the quarter. Vanguard Group Inc. owned approximately 10.09% of Home BancShares worth $566,424,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Home BancShares by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 995 shares during the period. UMB Bank n.a. boosted its stake in shares of Home BancShares by 32.4% during the first quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 647 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Home BancShares by 60.5% during the first quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 1,307 shares in the last quarter. Hohimer Wealth Management LLC acquired a new position in shares of Home BancShares in the first quarter worth approximately $203,000. Finally, 1492 Capital Management LLC acquired a new position in shares of Home BancShares in the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 67.31% of the company's stock.

Home BancShares Stock Performance

NYSE:HOMB traded down $0.59 during trading on Friday, reaching $28.25. The company's stock had a trading volume of 700,859 shares, compared to its average volume of 970,827. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 12.90 and a beta of 0.78. Home BancShares, Inc. has a 12 month low of $24.22 and a 12 month high of $32.90. The firm has a 50 day moving average of $28.62 and a 200-day moving average of $28.48.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%. The company had revenue of $271.03 million during the quarter, compared to the consensus estimate of $262.56 million. During the same quarter in the prior year, the company earned $0.52 EPS. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.8%. Home BancShares's dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $27.52, for a total value of $664,855.68. Following the sale, the chief executive officer owned 53,308 shares of the company's stock, valued at $1,467,036.16. This trade represents a 31.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HOMB shares. Wall Street Zen downgraded Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday. Royal Bank Of Canada decreased their price objective on Home BancShares from $33.00 to $31.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods boosted their price objective on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Stephens reissued an "overweight" rating and issued a $33.00 price target on shares of Home BancShares in a research report on Monday, April 21st. Finally, Piper Sandler increased their price target on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Home BancShares currently has an average rating of "Hold" and a consensus price target of $33.20.

About Home BancShares

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.