Kennedy Capital Management LLC Cuts Stock Holdings in Home BancShares, Inc. $HOMB

Kennedy Capital Management LLC lessened its holdings in Home BancShares, Inc. (NYSE:HOMB) by 10.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 950,701 shares of the financial services provider’s stock after selling 111,712 shares during the period. Home BancShares comprises 0.6% of Kennedy Capital Management LLC’s holdings, making the stock its 20th biggest position. Kennedy Capital Management LLC owned 0.48% of Home BancShares worth $26,905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Home BancShares by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 5,957,496 shares of the financial services provider’s stock worth $168,597,000 after buying an additional 45,848 shares in the last quarter. American Century Companies Inc. boosted its position in Home BancShares by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider’s stock valued at $138,772,000 after acquiring an additional 626,655 shares in the last quarter. Geode Capital Management LLC boosted its position in Home BancShares by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,572,656 shares of the financial services provider’s stock valued at $130,151,000 after acquiring an additional 26,511 shares in the last quarter. Norges Bank purchased a new position in shares of Home BancShares in the 2nd quarter valued at $64,545,000. Finally, First Trust Advisors LP raised its position in shares of Home BancShares by 52.5% in the 3rd quarter. First Trust Advisors LP now owns 2,230,065 shares of the financial services provider’s stock worth $63,111,000 after acquiring an additional 767,844 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

Home BancShares Stock Down 0.5%

NYSE:HOMB traded down $0.13 during mid-day trading on Friday, hitting $26.20. 76,671 shares of the company’s stock traded hands, compared to its average volume of 1,375,086. The company has a fifty day moving average of $28.64 and a 200 day moving average of $28.36. Home BancShares, Inc. has a twelve month low of $24.22 and a twelve month high of $30.83. The company has a market capitalization of $5.15 billion, a P/E ratio of 10.88 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 0.91.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. Home BancShares had a return on equity of 11.16% and a net margin of 32.18%.The business had revenue of $269.25 million during the quarter, compared to the consensus estimate of $272.48 million. During the same quarter last year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, February 11th. Home BancShares’s payout ratio is currently 34.85%.

Analysts Set New Price Targets

HOMB has been the subject of a number of analyst reports. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price (up from $34.00) on shares of Home BancShares in a report on Friday, January 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Home BancShares in a research report on Monday, December 29th. Cantor Fitzgerald lowered their price target on shares of Home BancShares from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Home BancShares from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.40.

Insider Buying and Selling

In other news, Director Donna Townsell sold 5,563 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $28.38, for a total transaction of $157,877.94. Following the sale, the director directly owned 218,460 shares of the company’s stock, valued at $6,199,894.80. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Allison II sold 5,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the transaction, the director directly owned 651,995 shares in the company, valued at approximately $18,379,739.05. The trade was a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.39% of the company’s stock.

Home BancShares Profile

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.