Mitsubishi UFJ Trust & Banking Corp Raises Position in Home BancShares, Inc. $HOMB

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Home BancShares, Inc. (NYSE:HOMB) by 37.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,906 shares of the financial services provider’s stock after purchasing an additional 24,443 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Home BancShares were worth $2,544,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in shares of Home BancShares by 14.7% in the second quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider’s stock worth $138,772,000 after buying an additional 626,655 shares during the period. Geode Capital Management LLC grew 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 worth $130,151,000 after acquiring an additional 26,511 shares during the last quarter. Norges Bank bought a new position in Home BancShares during the 2nd quarter worth approximately $64,545,000. Bank of New York Mellon Corp increased its stake in Home BancShares by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,769,612 shares of the financial services provider’s stock worth $50,363,000 after purchasing an additional 25,578 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in Home BancShares by 1.8% in the second quarter. Loomis Sayles & Co. L P now owns 1,245,363 shares of the financial services provider’s stock valued at $35,443,000 after purchasing an additional 21,583 shares during the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Home BancShares

In other Home BancShares news, Director Donna Townsell sold 5,563 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $28.38, for a total transaction of $157,877.94. Following the completion of the transaction, the director owned 218,460 shares of the company’s stock, valued at approximately $6,199,894.80. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

HOMB has been the topic of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $35.00 target price (up previously from $34.00) on shares of Home BancShares in a report on Friday, January 16th. Zacks Research raised shares of Home BancShares from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Wall Street Zen downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada set a $31.00 target price on shares of Home BancShares in a report on Monday, January 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Home BancShares in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Home BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Home BancShares Price Performance

Shares of NYSE HOMB opened at $28.95 on Friday. Home BancShares, Inc. has a 1 year low of $24.22 and a 1 year high of $31.27. The stock has a market capitalization of $5.69 billion, a P/E ratio of 12.01 and a beta of 0.78. The company’s 50-day moving average is $28.45 and its 200 day moving average is $28.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.91 and a quick ratio of 0.90.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, meeting 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 $282.09 million for the quarter, compared to analysts’ expectations of $272.48 million. During the same period in the previous year, the firm posted $0.50 EPS. The business’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, February 11th. Home BancShares’s dividend payout ratio is presently 34.85%.

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.