Insider Buying: Home BancShares, Inc. (HOMB) Chairman Purchases 15,000 Shares of Stock
Home BancShares, Inc. (NASDAQ:HOMB) Chairman John W. Allison acquired 15,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were purchased at an average price of $24.68 per share, with a total value of $370,200.00. Following the completion of the acquisition, the chairman now owns 4,953,896 shares in the company, valued at $122,262,153.28. The purchase was disclosed in a filing with the SEC, which is available at this link.
Home BancShares, Inc. (NASDAQ HOMB) opened at 24.96 on Tuesday. Home BancShares, Inc. has a 1-year low of $19.74 and a 1-year high of $29.69. The company’s 50 day moving average is $24.89 and its 200-day moving average is $25.90. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 18.70 and a beta of 1.18.
Home BancShares (NASDAQ:HOMB) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $131.77 million during the quarter, compared to analyst estimates of $132.18 million. Home BancShares had a net margin of 33.97% and a return on equity of 13.77%. During the same quarter in the previous year, the business posted $0.31 EPS. On average, analysts predict that Home BancShares, Inc. will post $1.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be paid a $0.11 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.76%. This is a positive change from Home BancShares’s previous quarterly dividend of $0.09. Home BancShares’s payout ratio is currently 26.87%.
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A number of hedge funds have recently made changes to their positions in the stock. FMR LLC acquired a new stake in shares of Home BancShares during the fourth quarter worth approximately $25,987,000. Norges Bank acquired a new stake in shares of Home BancShares during the fourth quarter worth approximately $25,941,000. Teachers Advisors LLC raised its stake in shares of Home BancShares by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 200,043 shares of the financial services provider’s stock worth $5,555,000 after buying an additional 5,106 shares during the period. Bank of Montreal Can raised its stake in shares of Home BancShares by 7.1% in the first quarter. Bank of Montreal Can now owns 12,009 shares of the financial services provider’s stock worth $325,000 after buying an additional 797 shares during the period. Finally, Horrell Capital Management Inc. raised its stake in shares of Home BancShares by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 109,040 shares of the financial services provider’s stock worth $2,952,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 60.51% of the company’s stock.
Several brokerages have recently weighed in on HOMB. Zacks Investment Research raised shares of Home BancShares from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $27.00 price target on shares of Home BancShares in a research report on Friday, July 21st. BidaskClub cut shares of Home BancShares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 target price on shares of Home BancShares in a report on Friday, July 21st. Finally, ValuEngine raised shares of Home BancShares from a “hold” rating to a “buy” rating in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Home BancShares currently has an average rating of “Hold” and an average target price of $28.70.
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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