Home BancShares (NYSE:HOMB) Now Covered by Cantor Fitzgerald

Key Points

• Analysts at Cantor Fitzgerald have initiated coverage on Home BancShares with a "neutral" rating and a price target of $32.00, suggesting a potential upside of 8.46% from its current stock price.
• The company has reported a 6.5% year-over-year increase in revenue for its last quarter, with earnings per share matching analyst estimates at $0.58.
• Recent insider trading included CEO John W. Allison selling 110,000 shares, resulting in a 1.95% decrease in his ownership of Home BancShares stock.

Cantor Fitzgerald began coverage on shares of Home BancShares (NYSE:HOMB - Free Report) in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $32.00 price objective on the financial services provider's stock.

HOMB has been the topic of several other reports. Wall Street Zen downgraded Home BancShares from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Keefe, Bruyette & Woods lifted their target price on Home BancShares from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Finally, Piper Sandler lifted their target price on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Home BancShares Trading Up 1.8%

Shares of HOMB stock traded up $0.52 on Wednesday, hitting $29.91. The stock had a trading volume of 1,561,968 shares, compared to its average volume of 779,322. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $5.89 billion, a P/E ratio of 13.66 and a beta of 0.81. Home BancShares has a 1 year low of $24.22 and a 1 year high of $32.90. The company's 50 day moving average price is $29.05 and its 200-day moving average price is $28.39.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share 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 for the quarter, compared to the consensus estimate of $262.56 million. During the same quarter in the prior year, the business earned $0.52 EPS. Home BancShares's revenue was up 6.5% on a year-over-year basis. Analysts anticipate that Home BancShares will post 2.19 earnings per share for the current year.

Home BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.80 annualized dividend and a yield of 2.7%. Home BancShares's payout ratio is currently 36.53%.

Insider Activity at Home BancShares

In related news, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $27.52, for a total value of $664,855.68. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Allison sold 110,000 shares of Home BancShares stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total value of $3,302,200.00. Following the sale, the chief executive officer directly owned 5,540,776 shares in the company, 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. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home BancShares

Hedge funds have recently modified their holdings of the stock. Binnacle Investments Inc grew its holdings in shares of Home BancShares by 76.7% in the 2nd 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Home BancShares during the first quarter valued at $39,000. Summit Securities Group LLC purchased a new position in shares of Home BancShares during the first quarter valued at $64,000. GAMMA Investing LLC grew its holdings in shares of Home BancShares by 60.8% during the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after buying an additional 995 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Home BancShares by 32.4% during the first quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after buying an additional 647 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

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.