Wedge Capital Management L L P NC Reduces Position in Home BancShares, Inc. $HOMB

Key Points

• Wedge Capital Management L L P NC reduced its position in Home BancShares by 28.1% during the second quarter, increasing the total value of its holdings to $1,454,000.
• Home BancShares reported earnings of $0.58 per share for the last quarter, matching analyst estimates, while revenue increased by 6.5% year-over-year to $271.03 million.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 2.8% and a payout ratio of 36.53%.

Wedge Capital Management L L P NC lessened its holdings in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 28.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,076 shares of the financial services provider's stock after selling 19,956 shares during the period. Wedge Capital Management L L P NC's holdings in Home BancShares were worth $1,454,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HOMB. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Home BancShares by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,404,440 shares of the financial services provider's stock valued at $237,594,000 after purchasing an additional 196,563 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Home BancShares by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,242,307 shares of the financial services provider's stock valued at $63,390,000 after purchasing an additional 75,463 shares during the period. Nuveen LLC purchased a new stake in shares of Home BancShares in the first quarter valued at approximately $41,431,000. Royce & Associates LP boosted its holdings in shares of Home BancShares by 0.5% in the first quarter. Royce & Associates LP now owns 1,123,775 shares of the financial services provider's stock valued at $31,769,000 after purchasing an additional 5,239 shares during the period. Finally, Boston Partners boosted its holdings in shares of Home BancShares by 1.4% in the first quarter. Boston Partners now owns 990,030 shares of the financial services provider's stock valued at $27,830,000 after purchasing an additional 13,813 shares during the period. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Stock Performance

NYSE HOMB opened at $28.99 on Tuesday. The stock has a 50-day simple moving average of $29.02 and a two-hundred day simple moving average of $28.37. The firm has a market capitalization of $5.71 billion, a P/E ratio of 13.24 and a beta of 0.81. Home BancShares, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $32.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. The business had revenue of $271.03 million during the quarter, compared to analyst estimates of $262.56 million. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.The company's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities analysts forecast that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.80 dividend on an annualized basis 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 W. Allison sold 110,000 shares of Home BancShares stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the completion of the transaction, the chief executive officer owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Wall Street Zen lowered Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Cantor Fitzgerald started coverage on Home BancShares in a report on Wednesday, September 10th. They set a "neutral" rating and a $32.00 target price for the company. Finally, Piper Sandler upped their target price on Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Home BancShares presently has an average rating of "Moderate Buy" and an average target price of $33.00.

Home BancShares Company 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.

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