Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Declares Dividend Increase – $0.20 Per Share

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) declared a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Shareholders of record on Wednesday, August 14th will be given a dividend of 0.195 per share by the financial services provider on Wednesday, September 4th. This represents a $0.78 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, August 14th. This is an increase from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18.

Home Bancshares, Inc. (Conway, AR) has raised its dividend by an average of 10.8% per year over the last three years and has raised its dividend every year for the last 13 years. Home Bancshares, Inc. (Conway, AR) has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 34.3%.

Home Bancshares, Inc. (Conway, AR) Stock Up 2.3 %

Shares of NYSE:HOMB opened at $28.33 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.90 and a current ratio of 0.90. The company’s fifty day moving average is $24.19 and its two-hundred day moving average is $23.97. Home Bancshares, Inc. has a 1-year low of $19.61 and a 1-year high of $28.57. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 14.60 and a beta of 1.07.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. The business had revenue of $254.60 million for the quarter, compared to analysts’ expectations of $247.26 million. During the same period in the prior year, the firm earned $0.51 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Home Bancshares, Inc. will post 2.05 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kevin Hester sold 25,263 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $27.00, for a total transaction of $682,101.00. Following the completion of the sale, the insider now owns 114,912 shares in the company, valued at approximately $3,102,624. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Brian Davis sold 15,391 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $26.89, for a total transaction of $413,863.99. Following the completion of the sale, the chief financial officer now directly owns 89,192 shares of the company’s stock, valued at approximately $2,398,372.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kevin Hester sold 25,263 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $27.00, for a total value of $682,101.00. Following the completion of the transaction, the insider now owns 114,912 shares in the company, valued at $3,102,624. The disclosure for this sale can be found here. Company insiders own 7.66% of the company’s stock.

Analysts Set New Price Targets

HOMB has been the topic of several recent research reports. Royal Bank of Canada lifted their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Piper Sandler lifted their price target on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.25.

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.