Hsbc Holdings PLC Lowers Position in Home BancShares, Inc. $HOMB

Hsbc Holdings PLC decreased its stake in shares of Home BancShares, Inc. (NYSE:HOMB) by 37.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 80,024 shares of the financial services provider’s stock after selling 47,870 shares during the period. Hsbc Holdings PLC’s holdings in Home BancShares were worth $2,225,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its stake in Home BancShares by 164.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 674 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Home BancShares in the 4th quarter worth $36,000. Covestor Ltd grew its stake in shares of Home BancShares by 110.6% in the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 697 shares in the last quarter. Binnacle Investments Inc raised its holdings in shares of Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 577 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in shares of Home BancShares in the fourth quarter valued at about $49,000. Institutional investors own 67.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HOMB shares. Weiss Ratings lowered shares of Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods reduced their price objective on shares of Home BancShares from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Stephens cut their target price on Home BancShares from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $30.00 target price (down from $31.00) on shares of Home BancShares in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.20.

Home BancShares Stock Performance

Shares of NYSE:HOMB traded up $0.10 during midday trading on Friday, reaching $28.73. The company had a trading volume of 2,230,296 shares, compared to its average volume of 1,938,759. The stock has a market cap of $5.79 billion, a P/E ratio of 11.82 and a beta of 0.68. The company’s 50 day moving average price is $27.38 and its 200 day moving average price is $27.77. 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, Inc. has a 52-week low of $25.50 and a 52-week high of $30.83.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The business had revenue of $266.71 million during the quarter, compared to the consensus estimate of $274.06 million. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. As a group, sell-side analysts anticipate that Home BancShares, Inc. will post 2.48 EPS for the current fiscal year.

Home BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, May 13th. Home BancShares’s dividend payout ratio is currently 34.57%.

Insider Buying and Selling

In related news, CAO Jennifer C. Floyd sold 3,000 shares of Home BancShares stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total value of $81,330.00. Following the sale, the chief accounting officer owned 4,635 shares of the company’s stock, valued at approximately $125,654.85. The trade was a 39.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Allison acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was purchased at an average price of $26.96 per share, for a total transaction of $2,696,000.00. Following the purchase, the chief executive officer owned 5,798,926 shares of the company’s stock, valued at $156,339,044.96. The trade was a 1.75% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.39% of the stock is owned by corporate insiders.

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.