Oak Ridge Investments LLC trimmed its position in shares of Home BancShares (NASDAQ:HOMB) by 20.8% in the first quarter, HoldingsChannel.com reports. The fund owned 393,034 shares of the financial services provider’s stock after selling 103,362 shares during the period. Oak Ridge Investments LLC’s holdings in Home BancShares were worth $8,965,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Home BancShares by 43.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 2,354 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in shares of Home BancShares by 0.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 587,283 shares of the financial services provider’s stock valued at $13,654,000 after buying an additional 2,683 shares during the period. Aperio Group LLC boosted its stake in shares of Home BancShares by 8.5% in the 1st quarter. Aperio Group LLC now owns 37,187 shares of the financial services provider’s stock valued at $848,000 after buying an additional 2,905 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Home BancShares by 9.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 33,900 shares of the financial services provider’s stock valued at $788,000 after buying an additional 3,000 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Home BancShares by 3.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 95,274 shares of the financial services provider’s stock valued at $2,174,000 after buying an additional 3,098 shares during the period. Institutional investors own 64.55% of the company’s stock.
Several brokerages have recently issued reports on HOMB. BidaskClub cut Home BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 30th. ValuEngine cut Home BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut Home BancShares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. FIG Partners upgraded Home BancShares from a “market-perform” rating to an “outperform” rating in a research note on Friday, April 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 price objective on shares of Home BancShares in a research note on Friday, April 20th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Home BancShares has a consensus rating of “Hold” and a consensus price target of $27.33.
In other news, Chairman John W. Allison purchased 20,000 shares of the business’s stock in a transaction on Thursday, April 19th. The shares were bought at an average price of $21.32 per share, with a total value of $426,400.00. Following the completion of the transaction, the chairman now directly owns 5,160,629 shares in the company, valued at approximately $110,024,610.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Russell Davis Carter III sold 3,500 shares of Home BancShares stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $23.67, for a total value of $82,845.00. Following the transaction, the insider now directly owns 16,259 shares in the company, valued at approximately $384,850.53. The disclosure for this sale can be found here. Insiders have sold a total of 53,500 shares of company stock worth $1,267,604 in the last three months. Corporate insiders own 9.15% of the company’s stock.
Shares of Home BancShares opened at $23.66 on Thursday, according to Marketbeat.com. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. Home BancShares has a fifty-two week low of $20.82 and a fifty-two week high of $26.30. The stock has a market cap of $4.04 billion, a PE ratio of 17.53 and a beta of 1.08.
Home BancShares (NASDAQ:HOMB) last issued its earnings results on Thursday, April 19th. The financial services provider reported $0.42 earnings per share for the quarter, topping the 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 business had revenue of $186.70 million for the quarter, compared to analyst estimates of $164.30 million. During the same quarter last year, the company earned $0.33 EPS. The business’s quarterly revenue was up 32.4% on a year-over-year basis. equities analysts forecast that Home BancShares will post 1.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 6th. Stockholders of record on Wednesday, May 16th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, May 15th. Home BancShares’s dividend payout ratio (DPR) is presently 32.59%.
Home BancShares declared that its board has approved a stock repurchase program on Thursday, February 22nd that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Home BancShares 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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