Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other research analysts also recently issued reports on the stock. Stephens reissued 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. Royal Bank of Canada boosted their price objective 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. Finally, Piper Sandler boosted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an overweight rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Bancshares, Inc. (Conway, AR) has a consensus rating of Hold and an average target price of $27.25.

Home Bancshares, Inc. (Conway, AR) Stock Up 0.7 %

Shares of NYSE HOMB opened at $28.53 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.45. Home Bancshares, Inc. has a 52 week low of $19.61 and a 52 week high of $28.82. The firm’s fifty day moving average is $24.26 and its 200 day moving average is $24.00. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 14.71 and a beta of 1.07.

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

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be given a $0.195 dividend. The ex-dividend date is Wednesday, August 14th. This is an increase from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.73%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is currently 37.11%.

Insider Transactions at Home Bancshares, Inc. (Conway, AR)

In other 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 value of $413,863.99. Following 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 Securities & Exchange Commission, which can be accessed through this link. In related news, insider Kevin Hester sold 25,263 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $27.00, for a total value of $682,101.00. Following the transaction, the insider now owns 114,912 shares in the company, valued at approximately $3,102,624. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian Davis sold 15,391 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $26.89, for a total transaction of $413,863.99. Following the completion of the transaction, the chief financial officer now owns 89,192 shares in the company, valued at approximately $2,398,372.88. The disclosure for this sale can be found here. Insiders own 7.66% of the company’s stock.

Hedge Funds Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Home Bancshares, Inc. (Conway, AR) by 48.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 286,618 shares of the financial services provider’s stock worth $6,867,000 after purchasing an additional 93,766 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Home Bancshares, Inc. (Conway, AR) by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,166,894 shares of the financial services provider’s stock valued at $51,919,000 after acquiring an additional 11,499 shares during the period. Everhart Financial Group Inc. lifted its stake in Home Bancshares, Inc. (Conway, AR) by 23.0% during the 2nd quarter. Everhart Financial Group Inc. now owns 13,866 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 2,597 shares during the period. Raymond James & Associates lifted its stake in Home Bancshares, Inc. (Conway, AR) by 6.9% during the 2nd quarter. Raymond James & Associates now owns 123,500 shares of the financial services provider’s stock valued at $2,959,000 after acquiring an additional 7,958 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in Home Bancshares, Inc. (Conway, AR) by 18.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 114,821 shares of the financial services provider’s stock valued at $2,751,000 after acquiring an additional 17,993 shares during the period. Institutional investors 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.