Piper Sandler Issues Positive Forecast for Home BancShares (NYSE:HOMB) Stock Price

Home BancShares (NYSE:HOMB - Get Free Report) had its price objective raised by analysts at Piper Sandler from $34.00 to $35.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price objective points to a potential upside of 17.28% from the company's previous close.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada lowered their price objective on shares of Home BancShares from $33.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Wall Street Zen raised shares of Home BancShares from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Stephens reaffirmed an "overweight" rating and set a $33.00 target price on shares of Home BancShares in a research note on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.20.

Home BancShares Stock Performance

NYSE HOMB traded down $0.35 during trading hours on Friday, reaching $29.84. The company's stock had a trading volume of 1,034,631 shares, compared to its average volume of 1,003,135. Home BancShares has a 52 week low of $24.22 and a 52 week high of $32.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The stock has a market cap of $5.89 billion, a PE ratio of 14.11 and a beta of 0.79. The business has a 50-day simple moving average of $28.69 and a 200 day simple moving average of $28.57.

Home BancShares (NYSE:HOMB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%. The business had revenue of $271.03 million for the quarter, compared to the consensus estimate of $262.56 million. During the same period last year, the business earned $0.52 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Home BancShares will post 2.19 earnings per share for the current fiscal year.

Insider Activity at Home BancShares

In other Home BancShares news, CAO Jennifer C. Floyd sold 2,500 shares of the business's stock in a transaction on 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 owned 4,301 shares of the company's stock, valued at approximately $118,062.45. The trade was a 36.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John Stephen Tipton sold 24,159 shares of the company'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 transaction of $664,855.68. Following the completion of the transaction, the chief executive officer owned 53,308 shares in the company, valued at approximately $1,467,036.16. This represents a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,787 shares of company stock valued at $937,840. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home BancShares

Several institutional investors and hedge funds have recently added to or reduced their stakes in HOMB. Aster Capital Management DIFC Ltd purchased a new position in Home BancShares in the 4th quarter valued at about $28,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Home BancShares during the 1st quarter valued at $39,000. Nomura Asset Management Co. Ltd. boosted its stake in Home BancShares by 48.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,630 shares of the financial services provider's stock valued at $46,000 after buying an additional 530 shares in the last quarter. Summit Securities Group LLC acquired a new position in Home BancShares during the first quarter worth about $64,000. Finally, GAMMA Investing LLC lifted its holdings in Home BancShares by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 995 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

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.