Home BancShares (NYSE:HOMB) Posts Quarterly Earnings Results, Meets Estimates

Home BancShares (NYSE:HOMB - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.58 EPS for the quarter, meeting analysts' consensus estimates of $0.58, Zacks reports. Home BancShares had a return on equity of 10.67% and a net margin of 29.58%. The firm had revenue of $271.03 million for the quarter, compared to analysts' expectations of $262.56 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year.

Home BancShares Price Performance

Shares of HOMB traded up $0.63 during trading hours on Friday, reaching $29.76. 190,373 shares of the company's stock traded hands, compared to its average volume of 1,002,538. The stock has a market cap of $5.88 billion, a PE ratio of 13.57 and a beta of 0.79. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The firm's 50 day simple moving average is $28.65 and its 200-day simple moving average is $28.55. Home BancShares has a 12 month low of $24.22 and a 12 month high of $32.91.

Home BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, May 14th. This is an increase from Home BancShares's previous quarterly dividend of $0.20. Home BancShares's dividend payout ratio (DPR) is 36.53%.

Insider Activity

In related news, CAO Jennifer C. Floyd sold 2,500 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $27.45, for a total transaction of $68,625.00. Following the transaction, the chief accounting officer directly owned 4,301 shares of the company's stock, valued at approximately $118,062.45. This trade represents a 36.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kevin Hester sold 7,128 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $28.67, for a total value of $204,359.76. Following the transaction, the insider directly owned 124,912 shares in the company, valued at approximately $3,581,227.04. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,787 shares of company stock worth $937,840. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Home BancShares

An institutional investor recently raised its position in Home BancShares stock. Jane Street Group LLC lifted its position in shares of Home BancShares, Inc. (NYSE:HOMB - Free Report) by 82.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,814 shares of the financial services provider's stock after buying an additional 125,301 shares during the period. Jane Street Group LLC owned about 0.14% of Home BancShares worth $7,826,000 as of its most recent SEC filing. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOMB has been the topic of a number of recent research reports. Stephens reaffirmed an "overweight" rating and set a $33.00 price target on shares of Home BancShares in a research report on Monday, April 21st. Wall Street Zen upgraded Home BancShares from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. 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. Finally, Piper Sandler raised their target price on Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.