Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Price Target Cut to $35.00 by Analysts at Hovde Group

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) had its price target cut by Hovde Group from $36.00 to $35.00 in a report issued on Friday, Marketbeat.com reports. They currently have an outperform rating on the financial services provider’s stock.

HOMB has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Sandler raised their price target on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $34.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have assigned 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 Performance

Home Bancshares, Inc. (Conway, AR) stock opened at $30.43 on Friday. Home Bancshares, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $32.90. The stock’s 50 day simple moving average is $29.78 and its two-hundred day simple moving average is $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 cap of $6.05 billion, a price-to-earnings ratio of 15.69 and a beta of 1.10.

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

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is 40.21%.

Insider Activity

In other Home Bancshares, Inc. (Conway, AR) news, CAO Jennifer C. Floyd sold 2,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.18, for a total value of $60,360.00. Following the transaction, the chief accounting officer now owns 3,468 shares of the company’s stock, valued at approximately $104,664.24. This represents a 36.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack Engelkes sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.12, for a total value of $753,000.00. Following the sale, the director now owns 199,195 shares of the company’s stock, valued at approximately $5,999,753.40. This represents a 11.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,997 shares of company stock valued at $2,782,548 in the last 90 days. 7.66% of the stock is currently owned by insiders.

Institutional Trading of Home Bancshares, Inc. (Conway, AR)

Several large investors have recently added to or reduced their stakes in HOMB. Dimensional Fund Advisors LP grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,550,418 shares of the financial services provider’s stock valued at $156,946,000 after acquiring an additional 490,718 shares during the period. Geode Capital Management LLC lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,144 shares of the financial services provider’s stock valued at $120,983,000 after buying an additional 60,588 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of Home Bancshares, Inc. (Conway, AR) by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 3,240,644 shares of the financial services provider’s stock valued at $87,789,000 after acquiring an additional 28,604 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Home Bancshares, Inc. (Conway, AR) by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,046,153 shares of the financial services provider’s stock worth $55,430,000 after acquiring an additional 134,741 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Home Bancshares, Inc. (Conway, AR) by 2.7% during the third quarter. Fisher Asset Management LLC now owns 1,765,799 shares of the financial services provider’s stock valued at $47,835,000 after purchasing an additional 47,259 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

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.