Home Bancshares (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “
Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $30.00 price objective on shares of Home Bancshares in a research note on Friday, December 22nd. BidaskClub upgraded Home Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Piper Jaffray reiterated a “hold” rating and set a $26.00 price target on shares of Home Bancshares in a research report on Tuesday, January 9th. Finally, Sandler O’Neill set a $26.00 price target on Home Bancshares and gave the company a “hold” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.79.
Home Bancshares (NASDAQ:HOMB) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Home Bancshares had a return on equity of 11.18% and a net margin of 21.79%. The business had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $165.40 million. During the same period in the previous year, the business posted $0.35 EPS. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. equities analysts anticipate that Home Bancshares will post 1.75 earnings per share for the current fiscal year.
Home Bancshares announced that its Board of Directors has initiated a stock buyback program on Thursday, February 22nd that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Home Bancshares news, Director Richard H. Ashley sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $25.01, for a total value of $7,503,000.00. Following the completion of the sale, the director now owns 145,354 shares of the company’s stock, valued at $3,635,303.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.15% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. purchased a new stake in Home Bancshares in the fourth quarter worth approximately $205,000. Grandeur Peak Global Advisors LLC boosted its stake in Home Bancshares by 93.2% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 620,787 shares of the financial services provider’s stock worth $14,433,000 after buying an additional 299,550 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Home Bancshares in the fourth quarter worth approximately $350,000. William Blair Investment Management LLC boosted its stake in Home Bancshares by 83.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,564,936 shares of the financial services provider’s stock worth $36,385,000 after buying an additional 714,190 shares in the last quarter. Finally, Pier Capital LLC boosted its stake in Home Bancshares by 9.8% in the fourth quarter. Pier Capital LLC now owns 295,723 shares of the financial services provider’s stock worth $6,876,000 after buying an additional 26,411 shares in the last quarter. 64.94% of the stock is owned by institutional investors and hedge funds.
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About Home Bancshares
Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, NOW, and money market accounts, as well as certificates of deposit.
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