State Street Corp Increases Position in Home BancShares, Inc. (HOMB)
State Street Corp raised its stake in Home BancShares, Inc. (NASDAQ:HOMB) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,520,817 shares of the financial services provider’s stock after buying an additional 212,972 shares during the period. State Street Corp owned approximately 3.15% of Home BancShares worth $122,383,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Home BancShares during the fourth quarter worth about $25,941,000. Guggenheim Capital LLC raised its stake in Home BancShares by 11.7% in the fourth quarter. Guggenheim Capital LLC now owns 146,981 shares of the financial services provider’s stock worth $4,082,000 after buying an additional 15,451 shares during the period. BlackRock Inc. raised 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. State of Alaska Department of Revenue raised its stake in Home BancShares by 3.9% in the first quarter. State of Alaska Department of Revenue now owns 13,990 shares of the financial services provider’s stock worth $378,000 after buying an additional 530 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Home BancShares during the first quarter worth about $810,000. 60.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Home BancShares, Inc. (NASDAQ HOMB) traded down 0.92% during trading on Thursday, reaching $24.84. The company’s stock had a trading volume of 281,812 shares. Home BancShares, Inc. has a 12 month low of $19.74 and a 12 month high of $29.69. The stock’s 50 day moving average price is $24.89 and its 200-day moving average price is $25.90. The firm has a market cap of $3.55 billion, a PE ratio of 19.11 and a beta of 1.19.
Home BancShares (NASDAQ:HOMB) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The company had revenue of $131.77 million for the quarter, compared to analyst estimates of $132.18 million. Home BancShares had a return on equity of 13.77% and a net margin of 33.97%. During the same period in the prior year, the company posted $0.31 EPS. Equities analysts predict that Home BancShares, Inc. will post $1.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be given a dividend of $0.11 per share. This is a positive change from Home BancShares’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, August 14th. Home BancShares’s dividend payout ratio is currently 26.87%.
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A number of research firms have issued reports on HOMB. Zacks Investment Research lowered Home BancShares from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Piper Jaffray Companies restated a “hold” rating and set a $27.00 target price on shares of Home BancShares in a research report on Friday, July 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $30.00 price objective on shares of Home BancShares in a research report on Friday, July 21st. BidaskClub downgraded Home BancShares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised Home BancShares from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Home BancShares has an average rating of “Hold” and a consensus target price of $28.70.
In related news, Chairman John W. Allison bought 15,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were purchased at an average cost of $25.46 per share, with a total value of $381,900.00. Following the completion of the transaction, the chairman now directly owns 4,968,396 shares of the company’s stock, valued at $126,495,362.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tracy French bought 2,300 shares of the company’s stock in a transaction on Friday, May 12th. The stock was bought at an average cost of $23.79 per share, for a total transaction of $54,717.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 32,300 shares of company stock worth $806,817. 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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