Legato Capital Management LLC Invests $1.28 Million in Home BancShares, Inc. (HOMB)
Legato Capital Management LLC purchased a new position in Home BancShares, Inc. (NASDAQ:HOMB) during the second quarter, Holdings Channel reports. The institutional investor purchased 51,196 shares of the financial services provider’s stock, valued at approximately $1,275,000.
Several other hedge funds also recently added to or reduced their stakes in HOMB. BlackRock Inc. increased its stake in Home BancShares by 37,629.8% in the first quarter. BlackRock Inc. now owns 16,430,592 shares of the financial services provider’s stock worth $444,776,000 after buying an additional 16,387,044 shares during the period. Vanguard Group Inc. increased its stake in Home BancShares by 9.6% in the first quarter. Vanguard Group Inc. now owns 11,113,886 shares of the financial services provider’s stock worth $300,852,000 after buying an additional 973,217 shares during the period. FMR LLC bought a new stake in Home BancShares during the fourth quarter worth approximately $25,987,000. Norges Bank bought a new stake in Home BancShares during the fourth quarter worth approximately $25,941,000. Finally, State Street Corp increased its stake in Home BancShares by 4.9% in the first quarter. State Street Corp now owns 4,520,817 shares of the financial services provider’s stock worth $122,383,000 after buying an additional 212,972 shares during the period. Institutional investors own 60.24% of the company’s stock.
Shares of Home BancShares, Inc. (NASDAQ HOMB) traded up 0.33% during trading on Friday, hitting $24.58. 265,903 shares of the stock traded hands. Home BancShares, Inc. has a 1-year low of $19.74 and a 1-year high of $29.69. The company has a 50 day moving average of $24.63 and a 200-day moving average of $26.05. The company has a market cap of $3.53 billion, a PE ratio of 18.95 and a beta of 1.19.
Home BancShares (NASDAQ:HOMB) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Home BancShares had a net margin of 33.82% and a return on equity of 13.81%. The company had revenue of $131.77 million for the quarter, compared to the consensus estimate of $132.18 million. During the same period in the prior year, the company posted $0.31 EPS. On average, equities analysts anticipate that Home BancShares, Inc. will post $1.38 EPS for the current fiscal year.
A number of analysts have commented on HOMB shares. BidaskClub downgraded shares of Home BancShares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Keefe, Bruyette & Woods upgraded shares of Home BancShares from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Monday, May 15th. Stephens restated a “buy” rating on shares of Home BancShares in a research report on Thursday, April 20th. Merion Capital Group restated a “neutral” rating and set a $28.50 price target on shares of Home BancShares in a research report on Monday, April 24th. Finally, Zacks Investment Research upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.13.
In other Home BancShares news, insider Jim F. Haynes, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $25.50, for a total transaction of $38,250.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tracy French bought 2,300 shares of the business’s stock in a transaction on Friday, May 12th. The shares were acquired at an average price of $23.79 per share, for a total transaction of $54,717.00. The disclosure for this purchase can be found here. Corporate insiders own 11.27% of the company’s stock.
About Home BancShares
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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