Home BancShares (NYSE:HOMB) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Home BancShares (NYSE:HOMB) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other research firms also recently commented on HOMB. Stephens boosted their target price on Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Benchmark began coverage on Home BancShares in a research report on Wednesday, June 24th. They issued a “hold” rating for the company. Citigroup reaffirmed a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Home BancShares in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded shares of Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Home BancShares has an average rating of “Hold” and a consensus target price of $32.67.

Home BancShares Price Performance

HOMB stock opened at $30.98 on Friday. The firm has a 50 day moving average of $28.13 and a 200-day moving average of $27.91. Home BancShares has a 12-month low of $25.50 and a 12-month high of $31.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 12.80 and a beta of 0.68.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.25% and a net margin of 32.10%.The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 EPS. As a group, equities analysts expect that Home BancShares will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Home BancShares’s payout ratio is presently 34.71%.

Institutional Trading of Home BancShares

A number of large investors have recently made changes to their positions in the stock. Root Financial Partners LLC raised its stake in Home BancShares by 76.9% in the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 474 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock worth $30,000 after buying an additional 674 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Home BancShares in the fourth quarter valued at approximately $36,000. Covestor Ltd lifted its stake in shares of Home BancShares by 110.6% during the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock valued at $37,000 after buying an additional 697 shares during the period. Finally, Binnacle Investments Inc boosted its position in Home BancShares by 76.7% during the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 577 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

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.