Zacks Investment Research Downgrades Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) to Hold

Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “

A number of other equities analysts have also recently issued reports on the stock. Raymond James cut shares of Home Bancshares, Inc. (Conway, AR) from an “outperform” rating to a “market perform” rating in a research report on Friday, July 16th. Citigroup raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $22.00 to $27.00 in a research report on Wednesday, April 14th.

HOMB stock opened at $22.21 on Tuesday. The company has a market cap of $3.66 billion, a PE ratio of 11.39 and a beta of 1.52. The stock’s 50-day moving average is $25.65. The company has a quick ratio of 0.95, a current ratio of 0.91 and a debt-to-equity ratio of 0.29. Home Bancshares, Inc. has a 1 year low of $14.42 and a 1 year high of $29.76.

Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) last released its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $172.40 million for the quarter, compared to analysts’ expectations of $174.17 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 40.76% and a return on equity of 11.86%. The business’s revenue was up 174.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, research analysts forecast that Home Bancshares, Inc. will post 1.81 EPS for the current year.

In related news, Director Jim Rankin sold 2,404 shares of the firm’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $28.06, for a total value of $67,456.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.79% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rafferty Asset Management LLC lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 207.1% during the 1st quarter. Rafferty Asset Management LLC now owns 76,234 shares of the financial services provider’s stock worth $2,062,000 after buying an additional 51,408 shares in the last quarter. Barclays PLC lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 211.8% during the 1st quarter. Barclays PLC now owns 204,349 shares of the financial services provider’s stock worth $5,528,000 after buying an additional 138,809 shares in the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in shares of Home Bancshares, Inc. (Conway, AR) during the 1st quarter worth approximately $3,803,000. BNP Paribas Arbitrage SA lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 117.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 87,169 shares of the financial services provider’s stock worth $2,358,000 after buying an additional 47,080 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 6.9% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 45,821 shares of the financial services provider’s stock worth $1,239,000 after buying an additional 2,955 shares in the last quarter. 67.27% of the stock is currently owned by institutional investors and hedge funds.

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

Home Bancshares, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary Centennial Bank. It primarily offers a range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals, and municipalities.

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