Home BancShares (NYSE:HOMB) Share Price Break Above Two Hundred Day Moving Average - What's Next?

Key Points

• Home BancShares shares rose above their 200-day moving average, reaching $28.95 and closing near $28.67, signaling improved technical momentum.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $33, compared with the recent share price.
• The company exceeded quarterly earnings and revenue estimates, while raising its quarterly dividend to $0.23 per share—an annualized yield of approximately 3.2%.

Home BancShares, Inc. (NYSE:HOMB - Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $28.43 and traded as high as $28.95. Home BancShares shares last traded at $28.6650, with a volume of 1,764,404 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Home BancShares from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Benchmark assumed coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They set a "hold" rating for the company. Piper Sandler reaffirmed an "overweight" rating and set a $36.00 target price (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Citigroup reaffirmed a "neutral" rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $31.00 target price (up from $30.00) on shares of Home BancShares in a report on Wednesday, August 19th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Home BancShares has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Home BancShares Trading Up 0.4%

The company has a market cap of $5.73 billion, a PE ratio of 11.85 and a beta of 0.72. The company's 50 day simple moving average is $30.11 and its two-hundred day simple moving average is $28.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

Home BancShares (NYSE:HOMB - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The business had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. During the same period in the previous year, the firm earned $0.58 EPS. The business's revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Home BancShares, Inc. will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This is a positive change from Home BancShares's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 3.2%. Home BancShares's dividend payout ratio is presently 38.02%.

Insider Buying and Selling

In other news, CEO John Tipton sold 12,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the completion of the transaction, the chief executive officer directly owned 76,308 shares in the company, valued at $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Home BancShares

Several institutional investors and hedge funds have recently modified their holdings of HOMB. Root Financial Partners LLC lifted 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 acquiring an additional 474 shares in the last quarter. Trust Co. of Vermont acquired a new position in Home BancShares in the 2nd quarter valued at about $41,000. Ancora Advisors LLC acquired a new position in Home BancShares in the 2nd quarter valued at about $45,000. Versant Capital Management Inc increased its stake in Home BancShares by 153.3% during the second quarter. Versant Capital Management Inc now owns 1,857 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,124 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Home BancShares during the fourth quarter worth about $58,000. 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 headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.

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.