Home BancShares (NYSE:HOMB) Stock Rating Lowered by Wall Street Zen

Home BancShares (NYSE:HOMB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

HOMB has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their price target on shares of Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Stephens restated an “overweight” rating and set a $33.00 price objective on shares of Home BancShares in a research note on Monday, April 21st. Piper Sandler lifted their price objective on shares of Home BancShares from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada decreased their price objective on shares of Home BancShares from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.20.

Home BancShares Trading Down 2.0%

Shares of Home BancShares stock opened at $28.25 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Home BancShares has a 12-month low of $24.22 and a 12-month high of $32.90. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 12.90 and a beta of 0.78. The firm’s 50 day simple moving average is $28.62 and its two-hundred day simple moving average is $28.49.

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, meeting analysts’ consensus estimates of $0.58. Home BancShares had a net margin of 29.58% and a return on equity of 10.60%. The business had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. During the same quarter in the prior year, the business posted $0.52 EPS. Home BancShares’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts predict that Home BancShares will post 2.19 EPS for the current year.

Insider Buying and Selling at Home BancShares

In other news, CEO John Stephen Tipton sold 24,159 shares of Home BancShares stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 53,308 shares of the company’s stock, valued at $1,467,036.16. The trade was a 31.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home BancShares

Several institutional investors have recently made changes to their positions in the company. BTC Capital Management Inc. increased 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 purchasing an additional 374 shares in the last quarter. State of Michigan Retirement System increased its holdings 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 acquiring an additional 400 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings 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 acquiring an additional 469 shares in the last quarter. Xponance Inc. increased its holdings in Home BancShares by 1.8% in the 1st quarter. Xponance Inc. now owns 26,770 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 476 shares in the last quarter. Finally, Inspire Advisors LLC increased its holdings in Home BancShares by 2.1% in the 2nd quarter. Inspire Advisors LLC now owns 24,285 shares of the financial services provider’s stock worth $691,000 after acquiring an additional 498 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

Home BancShares Company Profile

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.