Home BancShares (NYSE:HOMB) Stock Price Expected to Rise, Piper Sandler Analyst Says

Home BancShares (NYSE:HOMB - Get Free Report) had its price target increased by equities researchers at Piper Sandler from $34.00 to $35.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target would suggest a potential upside of 20.20% from the stock's previous close.

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

Home BancShares Price Performance

Shares of NYSE:HOMB opened at $29.12 on Friday. The business has a 50 day moving average price of $28.65 and a 200 day moving average price of $28.55. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. Home BancShares has a twelve month low of $24.22 and a twelve month high of $32.91. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 13.30 and a beta of 0.79.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Home BancShares had a return on equity of 10.67% and a net margin of 29.58%. The business had revenue of $271.03 million during the quarter, compared to the consensus estimate of $262.56 million. During the same quarter last year, the company earned $0.52 EPS. Home BancShares's revenue was up 6.5% on a year-over-year basis. Research analysts predict that Home BancShares will post 2.19 earnings per share for the current year.

Insider Activity

In related news, insider Kevin Hester sold 7,128 shares of the company'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 completion of the sale, the insider owned 124,912 shares of the company's stock, valued at approximately $3,581,227.04. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were 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 directly owned 53,308 shares of the company's stock, valued at approximately $1,467,036.16. The trade was a 31.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,787 shares of company stock worth $937,840. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Home BancShares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in Home BancShares in the 4th quarter worth approximately $60,169,000. Nuveen LLC acquired a new position in Home BancShares in the 1st quarter worth about $41,431,000. Point72 Asset Management L.P. lifted its holdings in shares of Home BancShares by 1,545.1% during the 4th quarter. Point72 Asset Management L.P. now owns 393,171 shares of the financial services provider's stock valued at $11,127,000 after buying an additional 369,271 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Home BancShares by 24.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,285,348 shares of the financial services provider's stock valued at $36,375,000 after acquiring an additional 250,703 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Home BancShares in the 4th quarter valued at approximately $5,656,000. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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