Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) to Issue $0.20 Quarterly Dividend

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Stockholders of record on Wednesday, February 12th will be paid a dividend of 0.195 per share by the financial services provider on Wednesday, March 5th. This represents a $0.78 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, February 12th.

Home Bancshares, Inc. (Conway, AR) has raised its dividend by an average of 10.2% annually over the last three years and has raised its dividend every year for the last 14 years. Home Bancshares, Inc. (Conway, AR) has a dividend payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 34.8%.

Home Bancshares, Inc. (Conway, AR) Price Performance

Shares of NYSE HOMB traded down $0.21 during midday trading on Wednesday, hitting $29.88. 1,960,093 shares of the company’s stock were exchanged, compared to its average volume of 1,298,576. Home Bancshares, Inc. has a 12-month low of $22.38 and a 12-month high of $32.90. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 14.79 and a beta of 1.10. The business’s fifty day moving average price is $29.77 and its two-hundred day moving average price is $27.94.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). The firm had revenue of $258.40 million during the quarter, compared to analysts’ expectations of $256.67 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.31% and a net margin of 27.39%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. As a group, research analysts forecast that Home Bancshares, Inc. will post 2.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on HOMB shares. Piper Sandler upped their target price on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Hovde Group lowered their price objective on Home Bancshares, Inc. (Conway, AR) from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens restated an “overweight” rating and set a $34.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Insider Buying and Selling

In other news, Director Jack Engelkes sold 25,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the sale, the director now directly owns 199,195 shares of the company’s stock, valued at approximately $5,999,753.40. This represents a 11.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer C. Floyd sold 2,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.18, for a total value of $60,360.00. Following the sale, the chief accounting officer now directly owns 3,468 shares in the company, valued at $104,664.24. This trade represents a 36.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,997 shares of company stock valued at $2,782,548 over the last ninety days. Company insiders own 7.66% of the company’s stock.

About Home Bancshares, Inc. (Conway, AR)

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, and money market accounts, as well as certificates of deposit.