Home BancShares (HOMB) Rating Increased to Outperform at FIG Partners

FIG Partners upgraded shares of Home BancShares (NASDAQ:HOMB) from a market-perform rating to an outperform rating in a report issued on Friday. FIG Partners also issued estimates for Home BancShares’ Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.87 EPS.

A number of other research analysts have also issued reports on the company. Keefe, Bruyette & Woods reiterated a buy rating and set a $28.00 price target on shares of Home BancShares in a research report on Friday. Sandler O’Neill upgraded Home BancShares from a hold rating to a buy rating and upped their price objective for the company from $25.00 to $26.00 in a report on Friday. Zacks Investment Research lowered Home BancShares from a hold rating to a sell rating in a report on Tuesday, March 27th. Piper Jaffray upgraded Home BancShares from a neutral rating to an overweight rating and set a $28.00 price objective for the company in a report on Thursday, March 1st. Finally, BidaskClub upgraded Home BancShares from a sell rating to a hold rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $27.50.

Shares of HOMB stock opened at $22.60 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.66. Home BancShares has a 1 year low of $20.82 and a 1 year high of $26.53. The firm has a market cap of $3,927.54, a price-to-earnings ratio of 15.69 and a beta of 1.11.

Home BancShares (NASDAQ:HOMB) last announced its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. Home BancShares had a return on equity of 11.35% and a net margin of 24.23%. The company had revenue of $186.70 million during the quarter, compared to analyst estimates of $164.30 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. equities analysts expect that Home BancShares will post 1.75 EPS for the current year.

Home BancShares announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 22nd that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Richard H. Ashley sold 300,000 shares of the company’s stock in a transaction 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 in the company, valued at $3,635,303.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.15% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Home BancShares during the third quarter valued at $201,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Home BancShares during the fourth quarter valued at $205,000. Meadow Creek Investment Management LLC lifted its holdings in shares of Home BancShares by 69.9% during the fourth quarter. Meadow Creek Investment Management LLC now owns 10,224 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 4,208 shares during the last quarter. Finally, 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 during the last quarter. 64.86% 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.

Analyst Recommendations for Home BancShares (NASDAQ:HOMB)

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