Home BancShares (NYSE:HOMB) Stock Rating Upgraded by Wall Street Zen

Key Points

• Home BancShares has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• The company reported $0.58 earnings per share (EPS) for the last quarter, matching analysts' expectations, with revenue of $271.03 million, exceeding estimates.
• Home BancShares shares have a current market price of $28.64 and a consensus price target of $33.20, suggesting potential for growth based on analyst ratings.

Home BancShares (NYSE:HOMB - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

HOMB has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their price target on Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Piper Sandler increased their target price on Home BancShares from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Stephens reissued an "overweight" rating and set a $33.00 target price on shares of Home BancShares in a report on Monday, April 21st. Finally, Royal Bank Of Canada reduced their target price 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Home BancShares presently has an average rating of "Moderate Buy" and a consensus price target of $33.20.

Home BancShares Stock Performance

Shares of HOMB stock opened at $28.64 on Friday. The company has a market capitalization of $5.65 billion, a P/E ratio of 13.08 and a beta of 0.79. The business's 50 day moving average is $28.67 and its two-hundred day moving average is $28.61. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Home BancShares has a 12-month low of $24.22 and a 12-month high of $32.90.

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

Insider Activity at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 53,308 shares of the company's stock, valued at $1,467,036.16. This trade represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin Hester sold 7,128 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $28.67, for a total value of $204,359.76. Following the sale, the insider directly owned 124,912 shares of the company's stock, valued at approximately $3,581,227.04. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Home BancShares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Home BancShares during the fourth quarter worth $28,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Home BancShares during the first quarter worth $39,000. Nomura Asset Management Co. Ltd. boosted its position in shares of 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 worth $46,000 after buying an additional 530 shares during the period. Summit Securities Group LLC purchased a new position in shares of Home BancShares during the first quarter worth $64,000. Finally, GAMMA Investing LLC boosted its position in shares of Home BancShares by 60.8% during the first quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider's stock worth $74,000 after buying an additional 995 shares during the period. 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.

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