Home BancShares (NYSE:HOMB) Price Target Raised to $32.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised Home BancShares’ price target from $30 to $32 while keeping a market perform rating, implying modest upside from the prior close.
• Recent analyst sentiment is mixed: several firms have issued or reiterated hold/neutral views, while Piper Sandler maintained an overweight rating and $36 target. Overall, MarketBeat shows an average rating of Hold with a $32.20 average target price.
• Home BancShares recently reported better-than-expected quarterly results, posting EPS of $0.64 versus $0.62 expected and revenue of $295.1 million, up 8.9% year over year.

Home BancShares (NYSE:HOMB - Get Free Report) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 3.10% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reissued a "neutral" rating on shares of Home BancShares in a research report on Thursday. Weiss Ratings cut shares of Home BancShares from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Benchmark started coverage on Home BancShares in a research report on Wednesday, June 24th. They set a "hold" rating for the company. Wall Street Zen lowered shares of Home BancShares from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $36.00 target price on shares of Home BancShares in a report on Friday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $32.20.

Home BancShares Stock Performance

Shares of NYSE HOMB traded up $0.35 during trading hours on Friday, hitting $31.04. 340,440 shares of the company's stock were exchanged, compared to its average volume of 1,580,099. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 12.84 and a beta of 0.68. Home BancShares has a 1-year low of $25.50 and a 1-year high of $31.18. The company's 50-day moving average price is $27.59 and its 200-day moving average price is $27.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Home BancShares had a return on equity of 11.29% and a net margin of 32.10%.The business had revenue of $295.10 million during the quarter, compared to analysts' expectations of $288.70 million. During the same period in the prior year, the firm posted $0.58 EPS. Home BancShares's quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Home BancShares will post 2.48 earnings per share for the current fiscal year.

Insider Transactions at Home BancShares

In other news, CAO Jennifer C. Floyd sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total value of $81,330.00. Following the completion of the sale, the chief accounting officer directly owned 4,635 shares of the company's stock, valued at $125,654.85. This represents a 39.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.39% of the company's stock.

Hedge Funds Weigh In On Home BancShares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Home BancShares by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider's stock worth $12,453,000 after acquiring an additional 15,259 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Home BancShares by 82.7% during the first quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider's stock valued at $7,826,000 after purchasing an additional 125,301 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Home BancShares by 13.2% in the 2nd quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider's stock valued at $612,000 after acquiring an additional 2,500 shares during the period. Marshall Wace LLP purchased a new stake in shares of Home BancShares during the second quarter worth about $1,015,000. Finally, Jump Financial LLC purchased a new position in Home BancShares during the 2nd quarter worth approximately $230,000. 67.31% of the stock is currently 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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