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

Key Points

• Wellington Management Group LLP reduced its stake in Home BancShares by 1.1%, selling 40,465 shares to hold 3,646,576 shares, valued at approximately $103 million.
• Home BancShares announced a quarterly dividend of $0.20, which will be paid on September 3rd, representing a 2.8% annual yield.
• Analysts have mixed views on the stock, with price targets ranging from $30 to $35, while the consensus rating stands at a "Moderate Buy."

Wellington Management Group LLP lowered its holdings in Home BancShares, Inc. (NYSE:HOMB - Free Report) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,646,576 shares of the financial services provider's stock after selling 40,465 shares during the quarter. Wellington Management Group LLP owned about 1.85% of Home BancShares worth $103,089,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Home BancShares in the 1st quarter valued at about $64,000. GAMMA Investing LLC increased its holdings in shares of 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 last quarter. UMB Bank n.a. increased its holdings in shares of Home BancShares by 32.4% in the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 647 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Home BancShares by 60.5% in the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider's stock valued at $98,000 after buying an additional 1,307 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Home BancShares in the 1st quarter valued at approximately $203,000. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Price Performance

HOMB stock traded up $0.31 during midday trading on Wednesday, hitting $30.23. 146,439 shares of the stock were exchanged, compared to its average volume of 1,004,034. The stock's 50-day moving average price is $28.77 and its 200-day moving average price is $28.41. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 13.82 and a beta of 0.78. 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 issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $271.03 million during the quarter, compared to analysts' expectations of $262.56 million. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.Home BancShares's revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Research analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.80 annualized dividend and a yield of 2.6%. Home BancShares's dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen cut Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Keefe, Bruyette & Woods raised 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. Finally, Piper Sandler lifted their price objective on Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.20.

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 on Friday, June 20th. The stock was sold at an average price of $27.52, for a total transaction of $664,855.68. Following the completion of the transaction, the chief executive officer owned 53,308 shares of the company's stock, valued at approximately $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John W. Allison sold 110,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total value of $3,302,200.00. Following the transaction, the chief executive officer directly owned 5,540,776 shares of the company's stock, valued at $166,334,095.52. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

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.