Home BancShares (NYSE:HOMB) Announces Earnings Results

Home BancShares (NYSE:HOMB) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01, FiscalAI reports. Home BancShares had a return on equity of 11.12% and a net margin of 32.10%.

Home BancShares Trading Down 0.2%

Shares of Home BancShares stock traded down $0.06 during trading on Wednesday, reaching $28.30. 1,954,526 shares of the company were exchanged, compared to its average volume of 1,567,282. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. Home BancShares has a twelve month low of $25.50 and a twelve month high of $31.70. The business has a 50-day moving average price of $29.71 and a 200-day moving average price of $28.55. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 11.70 and a beta of 0.72.

Home BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, August 12th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s dividend payout ratio is presently 38.02%.

Insider Buying and Selling at Home BancShares

In other Home BancShares news, CEO John Tipton sold 12,000 shares of Home BancShares stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the transaction, the chief executive officer directly owned 76,308 shares in the company, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HOMB. Piper Sandler reissued an “overweight” rating and issued a $36.00 price target (up from $33.00) on shares of Home BancShares in a report on Friday, July 17th. Stephens raised their price objective on shares of Home BancShares from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Weiss Ratings raised shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Citigroup reiterated a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Finally, Benchmark started coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.