Cantor Fitzgerald Issues Positive Forecast for Home BancShares (NYSE:HOMB) Stock Price

Home BancShares (NYSE:HOMB) had its target price hoisted by equities research analysts at Cantor Fitzgerald from $30.00 to $31.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 0.04% from the stock’s current price.

A number of other brokerages also recently issued reports on HOMB. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a research report on Sunday. Benchmark initiated coverage on Home BancShares in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Weiss Ratings upgraded Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their target price on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, Piper Sandler restated an “overweight” rating and set a $36.00 price target (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Home BancShares Stock Performance

Home BancShares stock opened at $30.99 on Wednesday. The company’s 50-day moving average price is $29.65 and its 200-day moving average price is $28.21. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $6.20 billion, a PE ratio of 12.81 and a beta of 0.69. Home BancShares has a twelve month low of $25.50 and a twelve month high of $31.70.

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, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. On average, equities research analysts forecast that Home BancShares will post 2.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total value of $379,080.00. Following the sale, the chief executive officer owned 76,308 shares in the company, valued at $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.39% of the stock is owned by company insiders.

Institutional Trading of Home BancShares

A number of large investors have recently made changes to their positions in the stock. United Capital Financial Advisors LLC purchased a new position in Home BancShares in the 2nd quarter worth about $242,000. Formula Growth Ltd. bought a new stake in Home BancShares during the 2nd quarter valued at about $1,482,000. Public Employees Retirement System of Ohio purchased a new stake in Home BancShares in the 2nd quarter valued at about $74,000. Corient Private Wealth LP purchased a new stake in Home BancShares in the 2nd quarter valued at about $680,000. Finally, Azora Capital LP bought a new position in Home BancShares in the 2nd quarter worth about $62,027,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

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.