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

Key Points

• Wall Street Zen upgraded Home BancShares from “sell” to “hold,” adding to a mixed analyst picture that currently leaves the stock with an overall “Hold” consensus and an average price target of $32.67.
• The company posted solid quarterly results, reporting EPS of $0.64 versus the $0.62 consensus and revenue of $295.1 million, up 8.9% year over year. Analysts now expect full-year EPS of 2.51.
• Shares were trading near their 12-month high, opening at $30.98, with the stock up 0.8% on the day. Home BancShares also has relatively low leverage, with a debt-to-equity ratio of 0.18.

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

A number of other analysts have also issued reports on HOMB. Cantor Fitzgerald reiterated a "neutral" rating on shares of Home BancShares in a research note on Thursday, July 16th. Benchmark started coverage on shares of Home BancShares in a report on Wednesday, June 24th. They set a "hold" rating on the stock. Citigroup reissued a "neutral" rating and issued a $32.00 price target (up from $29.00) on shares of Home BancShares in a research report on Tuesday. Piper Sandler reaffirmed an "overweight" rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Finally, Stephens lifted their target price on Home BancShares from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.67.

Home BancShares Stock Up 0.8%

Shares of HOMB opened at $30.98 on Friday. The company's 50-day moving average price is $28.13 and its 200 day moving average price is $27.91. Home BancShares has a 12-month low of $25.50 and a 12-month high of $31.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.24 billion, a P/E ratio of 12.80 and a beta of 0.68.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.The company had revenue of $295.10 million for the quarter, compared to analysts' expectations of $288.70 million. During the same period in the prior year, the firm earned $0.58 earnings per share. The firm's revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Home BancShares will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its holdings in shares of Home BancShares by 164.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 674 shares during the period. Root Financial Partners LLC boosted its stake in Home BancShares by 76.9% during 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 during the period. Kestra Advisory Services LLC purchased a new position in Home BancShares during the 4th quarter worth $36,000. Covestor Ltd grew its position in Home BancShares by 110.6% during the 4th 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 increased its stake in Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 577 shares during the period. Hedge funds and other institutional investors own 67.31% of the company's stock.

About Home BancShares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.