Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03, Briefing.com reports. Home Bancshares, Inc. (Conway, AR) had a net margin of 29.21% and a return on equity of 10.91%. The company had revenue of $246.40 million for the quarter, compared to the consensus estimate of $240.46 million. During the same period last year, the firm posted $0.54 EPS. The company's revenue for the quarter was down 1.0% on a year-over-year basis.

Home Bancshares, Inc. (Conway, AR) Stock Performance

Shares of HOMB stock traded up $0.78 during trading hours on Friday, reaching $24.00. The stock had a trading volume of 1,595,295 shares, compared to its average volume of 999,096. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.89. Home Bancshares, Inc. has a twelve month low of $19.61 and a twelve month high of $25.80. The firm has a 50-day simple moving average of $23.56 and a 200-day simple moving average of $23.11. The firm has a market capitalization of $4.83 billion, a PE ratio of 12.31 and a beta of 1.11.

Home Bancshares, Inc. (Conway, AR) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Wednesday, February 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.00%. Home Bancshares, Inc. (Conway, AR)'s dividend payout ratio (DPR) is presently 36.92%.

Insider Buying and Selling

In other Home Bancshares, Inc. (Conway, AR) news, Director Donna Townsell sold 22,729 shares of the firm's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $23.76, for a total transaction of $540,041.04. Following the transaction, the director now owns 215,854 shares of the company's stock, valued at approximately $5,128,691.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Home Bancshares, Inc. (Conway, AR) news, CEO John W. Allison acquired 20,000 shares of the stock in a transaction dated Monday, February 5th. The shares were bought at an average price of $22.74 per share, with a total value of $454,800.00. Following the purchase, the chief executive officer now directly owns 5,509,982 shares of the company's stock, valued at approximately $125,296,990.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donna Townsell sold 22,729 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $23.76, for a total transaction of $540,041.04. Following the completion of the transaction, the director now directly owns 215,854 shares in the company, valued at approximately $5,128,691.04. The disclosure for this sale can be found here. Corporate insiders own 7.66% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Home Bancshares, Inc. (Conway, AR) in the fourth quarter valued at approximately $34,256,000. State Street Corp lifted its stake in Home Bancshares, Inc. (Conway, AR) by 15.3% in the second quarter. State Street Corp now owns 8,272,790 shares of the financial services provider's stock valued at $171,826,000 after acquiring an additional 1,100,758 shares during the last quarter. Vanguard Group Inc. lifted its stake in Home Bancshares, Inc. (Conway, AR) by 1.2% in the third quarter. Vanguard Group Inc. now owns 20,900,440 shares of the financial services provider's stock valued at $470,469,000 after acquiring an additional 252,844 shares during the last quarter. Barclays PLC lifted its stake in Home Bancshares, Inc. (Conway, AR) by 71.9% in the fourth quarter. Barclays PLC now owns 583,007 shares of the financial services provider's stock valued at $14,767,000 after acquiring an additional 243,949 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Home Bancshares, Inc. (Conway, AR) by 23.7% in the fourth quarter. Morgan Stanley now owns 1,203,160 shares of the financial services provider's stock valued at $27,420,000 after acquiring an additional 230,792 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HOMB shares. Piper Sandler raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, January 19th. Stephens raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $26.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.00.

About Home Bancshares, Inc. (Conway, AR)

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.