Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Hits New 1-Year High – Time to Buy?

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $31.42 and last traded at $31.41, with a volume of 92247 shares. The stock had previously closed at $30.75.

Analysts Set New Price Targets

A number of research analysts recently commented on HOMB shares. Piper Sandler upped their price objective 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Friday, October 18th. StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Stephens upped their target price on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Home Bancshares, Inc. (Conway, AR) has a consensus rating of “Hold” and an average target price of $28.25.

Home Bancshares, Inc. (Conway, AR) Stock Performance

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $27.83 and a 200 day moving average price of $26.16. The firm has a market capitalization of $6.27 billion, a PE ratio of 15.85 and a beta of 1.05.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The firm had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $258.90 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 26.69% and a return on equity of 10.33%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. Research analysts expect that Home Bancshares, Inc. will post 2.04 earnings per share for the current year.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 2.47%. The ex-dividend date is Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is currently 40.21%.

Insiders Place Their Bets

In other Home Bancshares, Inc. (Conway, AR) news, CAO Jennifer C. Floyd sold 2,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.18, for a total value of $60,360.00. Following the sale, the chief accounting officer now directly owns 3,468 shares of the company’s stock, valued at approximately $104,664.24. This represents a 36.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Pat Hickman sold 63,997 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction on Monday, November 18th. The stock was sold at an average price of $30.77, for a total transaction of $1,969,187.69. Following the sale, the director now directly owns 175,500 shares of the company’s stock, valued at approximately $5,400,135. This trade represents a 26.72 % 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 worth $2,782,548 in the last ninety days. 7.66% of the stock is owned by corporate insiders.

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

Several large investors have recently bought and sold shares of HOMB. EntryPoint Capital LLC purchased a new position in Home Bancshares, Inc. (Conway, AR) during the 1st quarter worth approximately $31,000. UMB Bank n.a. lifted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 186.2% in the 3rd quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 795 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 49.7% in the third quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 427 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 41.6% during the third quarter. Blue Trust Inc. now owns 1,797 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 528 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in Home Bancshares, Inc. (Conway, AR) during the second quarter worth about $75,000. Hedge funds and other 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.