Home BancShares, Inc. (NYSE:HOMB) Declares Quarterly Dividend of $0.23

Home BancShares, Inc. (NYSE:HOMB) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Wednesday, August 12th will be paid a dividend of 0.23 per share by the financial services provider on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, August 12th. This is a 9.5% increase from Home BancShares’s previous quarterly dividend of $0.21.

Home BancShares has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Home BancShares has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Home BancShares to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 32.9%.

Home BancShares Price Performance

HOMB stock opened at $30.41 on Thursday. The firm has a 50 day moving average of $27.93 and a 200-day moving average of $27.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. Home BancShares has a 12 month low of $25.50 and a 12 month high of $31.18. The firm has a market capitalization of $6.12 billion, a P/E ratio of 12.56 and a beta of 0.68.

Home BancShares (NYSE:HOMB) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $295.10 million for the quarter, compared to analyst estimates of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.25%. Home BancShares’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS. As a group, sell-side analysts predict that Home BancShares will post 2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on HOMB. Stephens raised their price target on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a research report on Thursday, July 16th. Benchmark started coverage on Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating for the company. Wall Street Zen cut Home BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $36.00 target price (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Home BancShares has an average rating of “Hold” and an average target price of $32.67.

Home BancShares Company 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.