Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Reaches New 52-Week High – Here’s What Happened

by · The Markets Daily

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $29.74 and last traded at $29.74, with a volume of 164525 shares traded. The stock had previously closed at $27.37.

Wall Street Analyst Weigh In

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

Get Our Latest Analysis on Home Bancshares, Inc. (Conway, AR)

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

The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 15.17 and a beta of 1.05. The stock has a fifty day simple moving average of $27.12 and a 200-day simple moving average of $25.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.91 and a quick ratio of 0.90.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The business had revenue of $258.00 million during the quarter, compared to analyst estimates of $258.90 million. During the same period in the previous year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Home Bancshares, Inc. will post 2.05 EPS for the current year.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 40.21%.

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

In other Home Bancshares, Inc. (Conway, AR) news, Director Jack Engelkes sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the transaction, the director now owns 199,195 shares in the company, valued at approximately $5,999,753.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Jack Engelkes sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the completion of the sale, the director now directly owns 199,195 shares in the company, valued at $5,999,753.40. 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 at this link. Also, CAO Jennifer C. Floyd sold 2,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction that occurred on 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 in the company, valued at approximately $104,664.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Home Bancshares, Inc. (Conway, AR) by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 6,550,418 shares of the financial services provider’s stock valued at $156,946,000 after purchasing an additional 490,718 shares during the period. Copeland Capital Management LLC grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 0.9% during the third quarter. Copeland Capital Management LLC now owns 3,240,644 shares of the financial services provider’s stock worth $87,789,000 after buying an additional 28,604 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 2,166,894 shares of the financial services provider’s stock worth $51,919,000 after buying an additional 11,499 shares during the period. International Assets Investment Management LLC lifted its stake in Home Bancshares, Inc. (Conway, AR) by 2,609.0% in the third quarter. International Assets Investment Management LLC now owns 1,301,295 shares of the financial services provider’s stock worth $352,520,000 after acquiring an additional 1,253,259 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its stake in shares of Home Bancshares, Inc. (Conway, AR) by 0.4% during the second quarter. Bahl & Gaynor Inc. now owns 929,038 shares of the financial services provider’s stock worth $22,260,000 after purchasing an additional 4,065 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home Bancshares, Inc. (Conway, AR) Company Profile

(Get Free Report)

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.

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