Home BancShares (NYSE:HOMB) Now Covered by Cantor Fitzgerald

Key Points

• Home BancShares was upgraded to a "hold" rating by Cantor Fitzgerald, indicating a more cautious outlook compared to its previous evaluations.
• Analysts showed mixed sentiments; while Piper Sandler raised their price target to $35.00 with an "overweight" rating, Wall Street Zen downgraded their rating to "sell."
• The company reported $0.58 earnings per share in its last quarter, matching consensus estimates, with a notable revenue increase of 6.5% year-over-year.

Analysts at Cantor Fitzgerald started coverage on shares of Home BancShares (NYSE:HOMB - Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a "neutral" rating and a $32.00 price target on the financial services provider's stock. Cantor Fitzgerald's target price would suggest a potential upside of 8.60% from the company's current price.

Other analysts have also issued research reports about the stock. Piper Sandler boosted their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods boosted their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Finally, Wall Street Zen lowered shares of Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Home BancShares Stock Performance

Shares of HOMB opened at $29.47 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. Home BancShares has a twelve month low of $24.22 and a twelve month high of $32.90. The firm's 50 day moving average price is $29.06 and its two-hundred day moving average price is $28.38. The firm has a market cap of $5.81 billion, a P/E ratio of 13.45 and a beta of 0.81.

Home BancShares (NYSE:HOMB - Get Free Report) last announced its quarterly earnings results 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 net margin of 29.58% and a return on equity of 10.60%. The firm had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The business's revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Home BancShares will post 2.19 EPS for the current fiscal year.

Insider Activity

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the 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 sale, the chief executive officer owned 53,308 shares of the company's stock, valued at approximately $1,467,036.16. This represents a 31.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Allison sold 110,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the sale, the chief executive officer directly owned 5,540,776 shares of the company's stock, valued at $166,334,095.52. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Home BancShares

Large investors have recently modified their holdings of the company. Binnacle Investments Inc lifted its holdings in shares of Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider's stock worth $38,000 after purchasing an additional 577 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Home BancShares in the 1st quarter worth $39,000. Summit Securities Group LLC bought a new position in shares of Home BancShares in the 1st quarter worth $64,000. GAMMA Investing LLC lifted its stake in Home BancShares by 60.8% during 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 in the last quarter. Finally, UMB Bank n.a. lifted its stake in Home BancShares by 32.4% during the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 647 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

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.