Brokerages Set Home BancShares, Inc. (NYSE:HOMB) Target Price at $32.67

Home BancShares, Inc. (NYSE:HOMB) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $32.8333.

A number of research analysts have commented on HOMB shares. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 target price (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Citigroup reaffirmed a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Keefe, Bruyette & Woods upped their price objective on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Benchmark assumed coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 target price (up from $30.00) on shares of Home BancShares in a research note on Wednesday.

Home BancShares Stock Performance

Shares of Home BancShares stock opened at $30.41 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. Home BancShares has a 1 year low of $25.50 and a 1 year high of $31.70. The firm’s 50-day simple moving average is $29.71 and its 200-day simple moving average is $28.22. The firm has a market cap of $6.08 billion, a PE ratio of 12.56 and a beta of 0.69.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.58 earnings per share. Equities analysts forecast that Home BancShares will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 12th. This is an increase from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. Home BancShares’s dividend payout ratio is presently 38.02%.

Insider Activity

In other news, CEO John Stephen Tipton sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the transaction, the chief executive officer owned 76,308 shares of the company’s stock, valued at approximately $2,410,569.72. This trade represents a 13.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.39% of the company’s stock.

Hedge Funds Weigh In On Home BancShares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Home BancShares during the second quarter worth $735,643,000. Norges Bank bought a new stake in Home BancShares in the fourth quarter valued at about $66,673,000. Azora Capital LP acquired a new position in Home BancShares in the second quarter valued at about $62,027,000. Bank of New York Mellon Corp acquired a new position in Home BancShares in the second quarter valued at about $44,068,000. Finally, First Trust Advisors LP boosted its holdings in Home BancShares by 37.3% during the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock worth $85,031,000 after buying an additional 830,823 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

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.