Cantor Fitzgerald Cuts Home BancShares (NYSE:HOMB) Price Target to $31.00

Home BancShares (NYSE:HOMB) had its price objective cut by stock analysts at Cantor Fitzgerald from $32.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 14.01% from the company’s previous close.

Several other equities analysts have also issued reports on HOMB. Weiss Ratings reissued a “buy (b-)” rating on shares of Home BancShares in a research note on Monday, December 29th. Zacks Research upgraded shares of Home BancShares from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Piper Sandler reissued an “overweight” rating and set a $35.00 target price (up from $34.00) on shares of Home BancShares in a research note on Friday, January 16th. Wall Street Zen downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Royal Bank Of Canada set a $31.00 price objective on shares of Home BancShares in a report on Monday, January 12th. One investment 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. According to data from MarketBeat, Home BancShares has an average rating of “Moderate Buy” and an average target price of $32.40.

Home BancShares Trading Down 2.8%

HOMB traded down $0.78 during trading on Tuesday, reaching $27.19. 73,165 shares of the stock traded hands, compared to its average volume of 1,342,076. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $28.80 and its 200 day moving average is $28.44. Home BancShares has a 12 month low of $24.22 and a 12 month high of $30.83. The stock has a market capitalization of $5.34 billion, a PE ratio of 11.29 and a beta of 0.78.

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, 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 firm had revenue of $269.25 million during the quarter, compared to analyst estimates of $272.48 million. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 9.2% on a year-over-year basis. Equities analysts anticipate that Home BancShares will post 2.19 earnings per share for the current year.

Insider Activity

In other news, Director John W. Allison II sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 651,995 shares in the company, valued at approximately $18,379,739.05. The trade was a 0.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donna Townsell sold 5,563 shares of the company’s stock in a transaction that occurred 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Home BancShares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Home BancShares by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock worth $567,372,000 after purchasing an additional 621,751 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Home BancShares by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,160,888 shares of the financial services provider’s stock worth $171,152,000 after purchasing an additional 203,392 shares in the last quarter. Capital Research Global Investors grew its stake in Home BancShares by 4.5% during the 4th quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider’s stock worth $155,242,000 after buying an additional 238,548 shares during the last quarter. American Century Companies Inc. increased 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 buying an additional 626,655 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Home BancShares by 0.6% in the second quarter. Geode Capital Management LLC now owns 4,572,656 shares of the financial services provider’s stock valued at $130,151,000 after buying an additional 26,511 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

About Home BancShares

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.