Home BancShares, Inc. (NYSE:HOMB) Plans $0.20 Quarterly Dividend

Home BancShares, Inc. (NYSE:HOMB - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Investors of record on Wednesday, August 13th will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, September 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Wednesday, August 13th.

Home BancShares has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Home BancShares to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 35.9%.

Home BancShares Price Performance

Shares of HOMB traded down $0.18 during midday trading on Friday, hitting $28.64. 949,183 shares of the company traded hands, compared to its average volume of 1,160,303. The stock has a 50-day moving average of $28.67 and a 200-day moving average of $28.61. Home BancShares has a one year low of $24.22 and a one year high of $32.90. The firm has a market cap of $5.65 billion, a P/E ratio of 13.08 and a beta of 0.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick 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 EPS 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 analyst estimates of $262.56 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Home BancShares's revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Home BancShares will post 2.19 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Stephen Tipton sold 24,159 shares of Home BancShares 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 completion of the sale, the chief executive officer directly owned 53,308 shares in the company, valued at approximately $1,467,036.16. This trade represents a 31.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin Hester sold 7,128 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $28.67, for a total value of $204,359.76. Following the completion of the transaction, the insider directly owned 124,912 shares in the company, valued at $3,581,227.04. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Home BancShares

An institutional investor recently raised its position in Home BancShares stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 440,497 shares of the financial services provider's stock after purchasing an additional 15,259 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.22% of Home BancShares worth $12,453,000 at the end of the most recent quarter. 67.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HOMB has been the subject of several research reports. Royal Bank Of Canada cut their target price on Home BancShares from $33.00 to $31.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Wall Street Zen raised Home BancShares from a "sell" rating to a "hold" rating in a research note on Saturday. Piper Sandler increased their price objective on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods raised their price target on Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Finally, Stephens reaffirmed an "overweight" rating and issued a $33.00 price target on shares of Home BancShares in a research note on Monday, April 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.20.

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.