Wall Street Zen Upgrades Home BancShares (NYSE:HOMB) to Hold

Key Points

• Wall Street Zen upgraded Home BancShares from “sell” to “hold.” Overall analyst sentiment is “Hold,” with three Buy ratings, five Hold ratings, and a consensus price target of $32.67.
• Home BancShares reported quarterly EPS of $0.64, exceeding estimates of $0.62, while revenue reached $295.1 million and rose 8.9% year over year.
• The stock opened at $31.44, near its 52-week high of $31.70. CEO John Stephen Tipton recently sold 12,000 shares at an average price of $31.59, while institutional investors own 67.31% of the company.

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

Several other equities research analysts also recently issued reports on the stock. Cantor Fitzgerald restated a "neutral" rating on shares of Home BancShares in a research report on Thursday, July 16th. Weiss Ratings raised Home BancShares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods increased their target price on Home BancShares from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Citigroup reiterated a "neutral" rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Finally, Benchmark started coverage on shares of Home BancShares in a report on Wednesday, June 24th. They set a "hold" rating on the stock. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $32.67.

Home BancShares Price Performance

NYSE:HOMB opened at $31.44 on Friday. The company has a market cap of $6.29 billion, a P/E ratio of 12.99 and a beta of 0.69. The firm's fifty day moving average price is $29.50 and its two-hundred day moving average price is $28.17. Home BancShares has a one year low of $25.50 and a one year high of $31.70. 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 posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping 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 company had revenue of $295.10 million during the quarter, compared to analysts' expectations of $288.70 million. During the same quarter last year, the company posted $0.58 EPS. Home BancShares's quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that Home BancShares will post 2.51 earnings per share for the current year.

Insider Transactions at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were 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. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Home BancShares

Large investors have recently modified their holdings of the business. Root Financial Partners LLC raised its holdings in shares of 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 buying an additional 474 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Home BancShares by 164.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider's stock valued at $30,000 after buying an additional 674 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Home BancShares in the fourth quarter valued at about $36,000. Covestor Ltd grew its position in Home BancShares by 110.6% in the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc grew its position 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 acquiring an additional 577 shares during the last quarter. Institutional investors and hedge funds 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.

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