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

Cantor Fitzgerald initiated coverage on shares of Home BancShares (NYSE:HOMB) in a research note released on Wednesday, Marketbeat reports. The brokerage issued a neutral rating and a $32.00 price target on the financial services provider’s stock.

HOMB has been the subject of a number of other research reports. Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Piper Sandler boosted their price target on shares of Home BancShares from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Home BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Home BancShares Stock Up 0.8%

Shares of NYSE HOMB opened at $29.47 on Wednesday. The company has a market capitalization of $5.81 billion, a P/E ratio of 13.45 and a beta of 0.81. Home BancShares has a 52-week low of $24.22 and a 52-week high of $32.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50 day moving average price is $29.06 and its 200-day moving average price is $28.38.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $271.03 million for the quarter, compared to the consensus estimate of $262.56 million. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. Equities analysts forecast that Home BancShares will post 2.19 earnings per share for the current year.

Home BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 13th were issued a $0.20 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. Home BancShares’s dividend payout ratio (DPR) is currently 36.53%.

Insider Activity at Home BancShares

In related news, CEO John W. Allison sold 110,000 shares of Home BancShares stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total value of $3,302,200.00. Following the sale, the chief executive officer owned 5,540,776 shares in the company, valued at $166,334,095.52. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction 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 in the company, valued at approximately $1,467,036.16. This trade represents a 31.19% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Home BancShares

A number of hedge funds have recently modified their holdings of the business. BTC Capital Management Inc. boosted its holdings in shares of Home BancShares by 2.3% during the 2nd quarter. BTC Capital Management Inc. now owns 16,683 shares of the financial services provider’s stock valued at $473,000 after buying an additional 374 shares in the last quarter. State of Michigan Retirement System raised its position in Home BancShares by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 44,230 shares of the financial services provider’s stock worth $1,250,000 after buying an additional 400 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Home BancShares by 0.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 66,765 shares of the financial services provider’s stock worth $1,900,000 after buying an additional 469 shares during the last quarter. Xponance Inc. increased its position in shares of Home BancShares by 1.8% during the 1st quarter. Xponance Inc. now owns 26,770 shares of the financial services provider’s stock valued at $757,000 after purchasing an additional 476 shares during the last quarter. Finally, Inspire Advisors LLC increased its position in shares of Home BancShares by 2.1% during the 2nd quarter. Inspire Advisors LLC now owns 24,285 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

About Home BancShares

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.