Wells Fargo & Company MN reduced its stake in Home Bancshares Inc (NASDAQ:HOMB) by 37.1% during the fourth quarter, Holdings Channel reports. The fund owned 155,165 shares of the financial services provider’s stock after selling 91,336 shares during the period. Wells Fargo & Company MN’s holdings in Home Bancshares were worth $3,607,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in shares of Home Bancshares by 144.7% in the third quarter. Sei Investments Co. now owns 7,039 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 4,163 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Home Bancshares by 43.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 2,354 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Home Bancshares during the third quarter valued at $201,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Home Bancshares by 71.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,301 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 4,283 shares in the last quarter. Finally, Wolverine Trading LLC bought a new position in shares of Home Bancshares during the third quarter valued at $276,000. 64.94% of the stock is currently owned by hedge funds and other institutional investors.
In other Home Bancshares news, Director Richard H. Ashley sold 300,000 shares of the stock in a transaction dated 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 transaction, the director now owns 145,354 shares of the company’s stock, valued at $3,635,303.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.15% of the stock is currently owned by corporate insiders.
Home Bancshares (NASDAQ:HOMB) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Home Bancshares had a return on equity of 11.18% and a net margin of 21.79%. The company had revenue of $164.30 million for the quarter, compared to the consensus estimate of $165.40 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. Home Bancshares’s revenue was up 28.4% on a year-over-year basis. equities analysts predict that Home Bancshares Inc will post 1.75 earnings per share for the current year.
Home Bancshares declared that its board has authorized a share repurchase plan on Thursday, February 22nd that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of brokerages have recently issued reports on HOMB. Sandler O’Neill set a $25.00 price target on Home Bancshares and gave the company a “hold” rating in a report on Wednesday, March 28th. Zacks Investment Research downgraded Home Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. Piper Jaffray raised Home Bancshares from a “neutral” rating to an “overweight” rating and set a $28.00 price target on the stock in a report on Thursday, March 1st. BidaskClub raised Home Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $30.00 price target on shares of Home Bancshares in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.64.
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Home Bancshares Company Profile
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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