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

Shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $29.11, but opened at $28.20. Home Bancshares, Inc. (Conway, AR) shares last traded at $28.99, with a volume of 249,042 shares traded.

The financial services provider reported $0.50 EPS 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 return on equity of 10.33% and a net margin of 26.69%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.195 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.69%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is presently 40.21%.

Wall Street Analyst Weigh In

HOMB has been the topic of several analyst reports. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Stephens increased 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. Keefe, Bruyette & Woods raised their target price on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Home Bancshares, Inc. (Conway, AR) presently has a consensus rating of “Hold” and a consensus target price of $30.50.

Insider Activity

In related news, CAO Jennifer C. Floyd sold 2,000 shares of the business’s 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 in the company, valued at $104,664.24. The trade was a 36.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack Engelkes sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.12, for a total transaction of $753,000.00. Following the sale, the director now directly 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 sold a total of 90,997 shares of company stock worth $2,782,548 over the last 90 days. 7.66% of the stock is currently owned by company insiders.

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

A number of hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the fourth quarter valued at $40,000. Harbor Capital Advisors Inc. raised its holdings in Home Bancshares, Inc. (Conway, AR) by 0.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 69,914 shares of the financial services provider’s stock worth $1,979,000 after buying an additional 374 shares during the period. Central Pacific Bank Trust Division lifted its stake in Home Bancshares, Inc. (Conway, AR) by 13.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,640 shares of the financial services provider’s stock valued at $188,000 after buying an additional 780 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Home Bancshares, Inc. (Conway, AR) in the third quarter worth about $254,000. Finally, Sunbelt Securities Inc. increased its position in shares of Home Bancshares, Inc. (Conway, AR) by 5.4% in the third quarter. Sunbelt Securities Inc. now owns 10,854 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 554 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

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

The firm’s 50-day moving average price is $29.77 and its two-hundred day moving average price is $27.77. 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 market capitalization of $5.77 billion, a PE ratio of 14.96 and a beta of 1.10.

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.