Home Bancshares, Inc. (Conway, AR)’s (HOMB) Overweight Rating Reiterated at Stephens

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $34.00 target price on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 11.72% from the stock’s previous close.

Other research analysts have also issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their price target on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Home Bancshares, Inc. (Conway, AR) Stock Up 3.4 %

Shares of NYSE:HOMB opened at $30.43 on Thursday. Home Bancshares, Inc. has a 1 year low of $22.38 and a 1 year high of $32.90. The stock has a 50-day simple moving average of $29.78 and a 200-day simple moving average of $27.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $6.05 billion, a P/E ratio of 15.69 and a beta of 1.10.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The business had revenue of $258.40 million for the quarter, compared to analysts’ expectations of $256.67 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Home Bancshares, Inc. (Conway, AR)’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that Home Bancshares, Inc. will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jack Engelkes sold 25,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the completion of the transaction, the director now directly owns 199,195 shares in the company, valued at approximately $5,999,753.40. This trade represents a 11.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Pat Hickman sold 63,997 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $30.77, for a total value of $1,969,187.69. Following the sale, the director now owns 175,500 shares in the company, valued at $5,400,135. The trade was a 26.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,997 shares of company stock worth $2,782,548 in the last three months. 7.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Home Bancshares, Inc. (Conway, AR) by 10.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 315,379 shares of the financial services provider’s stock worth $8,544,000 after purchasing an additional 28,761 shares during the last quarter. LMR Partners LLP bought a new position in shares of Home Bancshares, Inc. (Conway, AR) in the 3rd quarter worth about $493,000. Citigroup Inc. boosted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 12.2% in the 3rd quarter. Citigroup Inc. now owns 289,079 shares of the financial services provider’s stock valued at $7,831,000 after buying an additional 31,493 shares during the period. Point72 Asset Management L.P. grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 277.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 23,900 shares of the financial services provider’s stock valued at $647,000 after buying an additional 17,563 shares during the last quarter. Finally, Creative Planning raised its stake in Home Bancshares, Inc. (Conway, AR) by 38.2% during the second quarter. Creative Planning now owns 601,926 shares of the financial services provider’s stock worth $14,422,000 after acquiring an additional 166,324 shares during the period. Institutional investors and hedge funds own 67.31% of the company’s stock.

About Home Bancshares, Inc. (Conway, AR)

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.