Home BancShares (NYSE:HOMB) Price Target Raised to $31.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Home BancShares’ price target to $31 from $30 while maintaining a “neutral” rating, implying virtually no upside from the stock’s $30.99 price. The analyst consensus remains “Moderate Buy,” with an average target of $32.83.
• Home BancShares reported quarterly EPS of $0.64, exceeding the $0.62 estimate, while revenue rose 8.9% year over year to $295.1 million, above expectations.
• The stock is trading near its 52-week high of $31.70, and CEO John Stephen Tipton recently sold 12,000 shares worth approximately $379,080. Institutional investors own 67.31% of the company.

Home BancShares (NYSE:HOMB - Get Free Report) had its price target increased by Cantor Fitzgerald from $30.00 to $31.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Cantor Fitzgerald's target price would suggest a potential upside of 0.04% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Piper Sandler reaffirmed 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. Wall Street Zen upgraded shares of Home BancShares from a "sell" rating to a "hold" rating in a research report on Sunday. Citigroup reissued a "neutral" rating and issued a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Finally, Benchmark began coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They set a "hold" rating on the stock. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.83.

Home BancShares Stock Performance

NYSE:HOMB opened at $30.99 on Wednesday. The stock has a 50-day simple moving average of $29.65 and a two-hundred day simple moving average of $28.21. Home BancShares has a 52-week low of $25.50 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $6.20 billion, a PE ratio of 12.81 and a beta of 0.69.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.The firm had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. During the same quarter last year, the company earned $0.58 earnings per share. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts forecast that Home BancShares will post 2.51 EPS for the current year.

Insider Activity

In other news, CEO John Stephen Tipton sold 12,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the transaction, the chief executive officer owned 76,308 shares of the company's stock, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Home BancShares

Several institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC lifted its stake in Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider's stock worth $29,000 after purchasing an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 674 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Home BancShares in the fourth quarter worth about $36,000. Covestor Ltd increased its holdings in shares of Home BancShares by 110.6% in the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider's stock worth $37,000 after purchasing an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc lifted its position in shares of Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock worth $38,000 after buying an additional 577 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

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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