Fortaleza Asset Management Inc. Acquires 5,240 Shares of Home Bancshares Inc (HOMB)
Fortaleza Asset Management Inc. increased its holdings in shares of Home Bancshares Inc (NASDAQ:HOMB) by 60.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,907 shares of the financial services provider’s stock after purchasing an additional 5,240 shares during the period. Home Bancshares makes up about 2.0% of Fortaleza Asset Management Inc.’s holdings, making the stock its 3rd biggest position. Fortaleza Asset Management Inc.’s holdings in Home Bancshares were worth $323,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Home Bancshares by 43.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 2,354 shares during the period. Dupont Capital Management Corp acquired a new stake in Home Bancshares in the fourth quarter valued at approximately $328,000. Legato Capital Management LLC grew its stake in Home Bancshares by 8.7% in the fourth quarter. Legato Capital Management LLC now owns 96,188 shares of the financial services provider’s stock valued at $2,236,000 after acquiring an additional 7,722 shares during the period. Horrell Capital Management Inc. grew its stake in Home Bancshares by 2.0% in the fourth quarter. Horrell Capital Management Inc. now owns 114,564 shares of the financial services provider’s stock valued at $2,664,000 after acquiring an additional 2,284 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in Home Bancshares in the fourth quarter valued at approximately $3,372,000. 63.79% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jim Rankin bought 1,337 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $21.45 per share, for a total transaction of $28,678.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.27% of the stock is owned by company insiders.
Home Bancshares (NASDAQ:HOMB) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Home Bancshares had a return on equity of 11.18% and a net margin of 21.79%. The company had revenue of $164.30 million for the quarter, compared to analyst estimates of $165.40 million. During the same quarter last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. sell-side analysts forecast that Home Bancshares Inc will post 1.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.80%. Home Bancshares’s dividend payout ratio is presently 48.35%.
A number of equities research analysts have commented on HOMB shares. Zacks Investment Research raised Home Bancshares from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 price objective on shares of Home Bancshares in a research note on Friday, December 22nd. Sandler O’Neill set a $26.00 price objective on Home Bancshares and gave the company a “hold” rating in a research note on Thursday, January 4th. BidaskClub raised Home Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 price objective on shares of Home Bancshares in a research note on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Home Bancshares currently has a consensus rating of “Hold” and an average target price of $27.50.
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Home Bancshares Profile
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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