Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Announces Earnings Results, Beats Expectations By $0.03 EPS

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) posted its quarterly earnings data on Thursday. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03, Briefing.com reports. The company had revenue of $246.40 million during the quarter, compared to analysts’ expectations of $240.46 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.91% and a net margin of 29.21%. Home Bancshares, Inc. (Conway, AR)’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share.

Home Bancshares, Inc. (Conway, AR) Stock Performance

NYSE HOMB opened at $23.21 on Friday. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 11.90 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $23.56 and a 200-day moving average price of $23.11. Home Bancshares, Inc. has a twelve month low of $19.61 and a twelve month high of $25.80.

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Wednesday, February 14th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Tuesday, February 13th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is 36.92%.

Insider Transactions at Home Bancshares, Inc. (Conway, AR)

In other news, Director Donna Townsell sold 22,729 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $23.76, for a total value of $540,041.04. Following the completion of the transaction, the director now owns 215,854 shares of the company’s stock, valued at $5,128,691.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Donna Townsell sold 22,729 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $23.76, for a total value of $540,041.04. Following the completion of the transaction, the director now owns 215,854 shares of the company’s stock, valued at $5,128,691.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John W. Allison acquired 20,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of $22.74 per share, with a total value of $454,800.00. Following the purchase, the chief executive officer now owns 5,509,982 shares of the company’s stock, valued at $125,296,990.68. The disclosure for this purchase can be found here. Corporate insiders own 7.66% of the company’s stock.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of hedge funds have recently made changes to their positions in HOMB. Norges Bank purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the fourth quarter worth about $34,256,000. State Street Corp lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 15.3% in the second quarter. State Street Corp now owns 8,272,790 shares of the financial services provider’s stock worth $171,826,000 after buying an additional 1,100,758 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 1.2% in the third quarter. Vanguard Group Inc. now owns 20,900,440 shares of the financial services provider’s stock worth $470,469,000 after buying an additional 252,844 shares in the last quarter. Barclays PLC lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 71.9% in the fourth quarter. Barclays PLC now owns 583,007 shares of the financial services provider’s stock worth $14,767,000 after buying an additional 243,949 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 23.7% in the fourth quarter. Morgan Stanley now owns 1,203,160 shares of the financial services provider’s stock worth $27,420,000 after buying an additional 230,792 shares in the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HOMB shares. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a report on Tuesday, April 9th. Piper Sandler boosted their price target on Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.00.

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

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.