Stephens Issues Positive Forecast for Home BancShares (NYSE:HOMB) Stock Price

Key Points

• Stephens raised its price target on Home BancShares to $35 from $32 and kept an overweight rating, implying about 13% upside from the current share price.
• The company beat quarterly expectations, reporting EPS of $0.64 versus $0.62 expected and revenue of $295.1 million versus $288.7 million expected, with revenue up 8.9% year over year.
• Analyst sentiment is mixed overall: the stock has a consensus Hold rating and an average price target of $32.80, despite some recent bullish calls from Stephens and Piper Sandler.

Home BancShares (NYSE:HOMB - Get Free Report) had its price objective lifted by analysts at Stephens from $32.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Stephens' target price would indicate a potential upside of 13.01% from the stock's current price.

Several other equities analysts have also recently commented on HOMB. Weiss Ratings cut shares of Home BancShares from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Piper Sandler reissued an "overweight" rating and issued a $36.00 price target on shares of Home BancShares in a report on Friday. Wall Street Zen lowered shares of Home BancShares from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Benchmark initiated coverage on shares of Home BancShares in a report on Wednesday, June 24th. They issued a "hold" rating on the stock. Finally, Cantor Fitzgerald reiterated a "neutral" rating on shares of Home BancShares in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $32.80.

Home BancShares Price Performance

HOMB traded up $0.28 during trading on Friday, reaching $30.97. 775,818 shares of the company were exchanged, compared to its average volume of 1,583,777. The company's 50-day moving average is $27.59 and its two-hundred day moving average is $27.80. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 12.79 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. Home BancShares has a 12-month low of $25.50 and a 12-month high of $31.18.

Home BancShares (NYSE:HOMB - Get Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Home BancShares had a return on equity of 11.29% and a net margin of 32.10%.The business had revenue of $295.10 million during the quarter, compared to analyst estimates of $288.70 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The company's quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that Home BancShares will post 2.48 earnings per share for the current fiscal year.

Insider Transactions at Home BancShares

In other Home BancShares news, CAO Jennifer C. Floyd sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total value of $81,330.00. Following the completion of the transaction, the chief accounting officer owned 4,635 shares of the company's stock, valued at $125,654.85. The trade was a 39.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.39% of the stock is currently owned by insiders.

Institutional Trading of Home BancShares

A number of hedge funds have recently made changes to their positions in HOMB. Trust Point Inc. bought a new stake in Home BancShares during the second quarter worth about $205,000. Kwmg LLC increased its position in shares of Home BancShares by 2.6% during the 2nd quarter. Kwmg LLC now owns 266,746 shares of the financial services provider's stock valued at $7,616,000 after purchasing an additional 6,820 shares during the last quarter. Apella Capital LLC raised its holdings in shares of Home BancShares by 41.6% during the 2nd quarter. Apella Capital LLC now owns 14,534 shares of the financial services provider's stock valued at $417,000 after buying an additional 4,273 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Home BancShares by 153.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,857 shares of the financial services provider's stock valued at $53,000 after buying an additional 1,124 shares in the last quarter. Finally, Cim Investment Management Inc. lifted its position in Home BancShares by 41.3% in the 1st quarter. Cim Investment Management Inc. now owns 11,999 shares of the financial services provider's stock worth $323,000 after buying an additional 3,508 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

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.

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