Wellington Management Group LLP Grows Stock Holdings in Home BancShares, Inc. $HOMB

Key Points

• Wellington Management increased its Home BancShares stake by 23.9% in the second quarter, purchasing 188,710 additional shares to hold 977,284 shares valued at approximately $27.9 million. Institutional investors collectively own 67.31% of the stock.
• Home BancShares exceeded quarterly earnings expectations, reporting $0.64 EPS and $295.1 million in revenue; revenue rose 8.9% year over year. The company also raised its quarterly dividend to $0.23 per share, representing a 3.1% yield.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $32.83 versus the stock’s reported $30.16 price. Meanwhile, CEO John Tipton sold 12,000 shares, reducing his position by 13.59%.

Wellington Management Group LLP grew its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 23.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 977,284 shares of the financial services provider's stock after purchasing an additional 188,710 shares during the period. Wellington Management Group LLP owned about 0.49% of Home BancShares worth $27,901,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC raised its holdings in shares of 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 valued at $29,000 after buying an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Home BancShares by 164.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock worth $30,000 after buying an additional 674 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Home BancShares during the fourth quarter valued at approximately $36,000. Covestor Ltd grew its position in Home BancShares by 110.6% during the fourth 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 during the last quarter. Finally, Binnacle Investments Inc raised its stake in shares of Home BancShares by 76.7% during the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock worth $38,000 after acquiring an additional 577 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

Home BancShares Price Performance

HOMB opened at $30.16 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $6.03 billion, a PE ratio of 12.46 and a beta of 0.67. The stock's 50 day moving average price is $30.12 and its 200-day moving average price is $28.24. Home BancShares, Inc. has a 52-week low of $25.50 and a 52-week high of $31.70.

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

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were issued a dividend of $0.23 per share. This is a positive change from Home BancShares's previous quarterly dividend of $0.21. 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%. Home BancShares's dividend payout ratio (DPR) is currently 38.02%.

Analyst Upgrades and Downgrades

HOMB has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $31.00 price objective (up from $30.00) on shares of Home BancShares in a report on Wednesday, August 19th. Citigroup reiterated a "neutral" rating and issued a $32.00 target price (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. 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 research report on Friday, July 17th. Piper Sandler reaffirmed an "overweight" rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.83.

Insider Buying and Selling at Home BancShares

In other news, CEO John Tipton sold 12,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the transaction, the chief executive officer owned 76,308 shares of the company's stock, valued at approximately $2,410,569.72. This represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.39% of the company's stock.

Home BancShares 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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