Home BancShares (NYSE:HOMB) CEO Sells 12,000 Shares of Stock

Key Points

• CEO John Stephen Tipton sold 12,000 Home BancShares shares for approximately $379,080, reducing his direct ownership by 13.59% to 76,308 shares.
• Home BancShares reported quarterly EPS of $0.64, beating estimates by $0.02, while revenue rose 8.9% year over year to $295.1 million.
• The company increased its quarterly dividend to $0.23 per share, equivalent to an annualized $0.92 payout and a 2.9% yield; analysts maintain a consensus “Hold” rating with an average price target of $32.67.

Home BancShares, Inc. (NYSE:HOMB - Get Free Report) CEO John Stephen Tipton sold 12,000 shares of the business's 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 sale, the chief executive officer directly owned 76,308 shares of the company's stock, valued at $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Home BancShares Stock Down 0.6%

Shares of HOMB stock traded down $0.18 during trading hours on Wednesday, reaching $31.23. The company had a trading volume of 1,409,604 shares, compared to its average volume of 1,615,962. Home BancShares, Inc. has a 12 month low of $25.50 and a 12 month high of $31.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The business has a fifty day simple moving average of $28.80 and a 200-day simple moving average of $28.05. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 12.90 and a beta of 0.69.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.The company 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 firm earned $0.58 earnings per share. Home BancShares's quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts expect that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. This is a positive change from Home BancShares's previous quarterly dividend of $0.21. Home BancShares's payout ratio is presently 34.71%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HOMB shares. Stephens increased their target price on shares of Home BancShares from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Piper Sandler restated an "overweight" rating and set a $36.00 price target (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Benchmark started coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They issued a "hold" rating for the company. Weiss Ratings upgraded shares of Home BancShares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of Home BancShares in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Home BancShares presently has a consensus rating of "Hold" and an average price target of $32.67.

Hedge Funds Weigh In On Home BancShares

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Home BancShares during the 4th quarter valued at $66,673,000. First Trust Advisors LP increased its holdings in Home BancShares by 37.3% in the 4th quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider's stock worth $85,031,000 after acquiring an additional 830,823 shares during the last quarter. Vanguard Group Inc. increased its holdings in Home BancShares by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider's stock worth $567,372,000 after acquiring an additional 621,751 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Home BancShares by 9.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,491 shares of the financial services provider's stock valued at $180,979,000 after acquiring an additional 559,603 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Home BancShares by 82.9% during the third quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider's stock valued at $31,716,000 after purchasing an additional 508,127 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

Home BancShares Company 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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