Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Gap Down on Disappointing Earnings

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)’s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $27.45, but opened at $26.10. Home Bancshares, Inc. (Conway, AR) shares last traded at $27.24, with a volume of 57,913 shares traded.

The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. The firm had revenue of $258.00 million during the quarter, compared to the consensus estimate of $258.90 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue was up 5.2% on a year-over-year basis.

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

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, August 14th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is 40.21%.

Analyst Ratings Changes

HOMB has been the topic of a number of recent research reports. Piper Sandler raised their target price on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, July 19th. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Stephens reiterated an “overweight” rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday, July 18th. Finally, Royal Bank of Canada increased their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.25.

Insider Buying and Selling

In other Home Bancshares, Inc. (Conway, AR) news, CFO Brian Davis sold 15,391 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $26.89, for a total transaction of $413,863.99. Following the sale, the chief financial officer now directly owns 89,192 shares of the company’s stock, valued at $2,398,372.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Home Bancshares, Inc. (Conway, AR) news, CFO Brian Davis sold 15,391 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $26.89, for a total transaction of $413,863.99. Following the sale, the chief financial officer now owns 89,192 shares in the company, valued at $2,398,372.88. This represents a 0.00 % 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, insider Kevin Hester sold 25,263 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction on Friday, July 19th. The shares were 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 of the company’s stock, valued at approximately $3,102,624. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in Home Bancshares, Inc. (Conway, AR) during the 1st quarter worth approximately $31,000. UMB Bank n.a. raised its position in shares of Home Bancshares, Inc. (Conway, AR) by 186.2% in the third quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider’s stock worth $33,000 after buying an additional 795 shares in the last quarter. GAMMA Investing LLC boosted its stake in Home Bancshares, Inc. (Conway, AR) by 49.7% during the third quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock valued at $35,000 after buying an additional 427 shares during the period. Point72 DIFC Ltd purchased a new position in Home Bancshares, Inc. (Conway, AR) during the second quarter worth about $75,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Home Bancshares, Inc. (Conway, AR) in the 2nd quarter worth about $81,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

Home Bancshares, Inc. (Conway, AR) Trading Down 0.8 %

The stock has a market cap of $5.46 billion, a PE ratio of 14.05 and a beta of 1.05. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $26.86 and a two-hundred day simple moving average of $25.28.

Home Bancshares, Inc. (Conway, AR) 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.