Edgestream Partners L.P. Acquires 37,405 Shares of Home BancShares, Inc. (NYSE:HOMB)

Edgestream Partners L.P. grew its position in Home BancShares, Inc. (NYSE:HOMB) by 134.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,328 shares of the financial services provider’s stock after acquiring an additional 37,405 shares during the quarter. Edgestream Partners L.P.’s holdings in Home BancShares were worth $1,847,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in Home BancShares during the fourth quarter worth approximately $28,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Home BancShares by 48.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,630 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 530 shares in the last quarter. GAMMA Investing LLC lifted its position in Home BancShares by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 2,632 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 995 shares in the last quarter. UMB Bank n.a. lifted its position in Home BancShares by 32.4% in the 1st quarter. UMB Bank n.a. now owns 2,646 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 647 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in Home BancShares in the 4th quarter valued at about $85,000. 67.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOMB has been the subject of several analyst reports. Royal Bank Of Canada cut their price objective on shares of Home BancShares from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. Stephens reiterated an “overweight” rating and set a $33.00 price target on shares of Home BancShares in a research report on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Home BancShares Stock Performance

Shares of NYSE HOMB opened at $29.12 on Friday. The company’s fifty day moving average price is $28.65 and its 200 day moving average price is $28.55. Home BancShares, Inc. has a 1 year low of $24.22 and a 1 year high of $32.91. The company has a market capitalization of $5.75 billion, a PE ratio of 13.30 and a beta of 0.79. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Home BancShares had a net margin of 29.58% and a return on equity of 10.67%. The firm had revenue of $271.03 million during the quarter, compared to analyst estimates of $262.56 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Home BancShares’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current year.

Home BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.20 per share. This is a positive change from Home BancShares’s previous quarterly dividend of $0.20. This represents a $0.80 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Wednesday, May 14th. Home BancShares’s payout ratio is presently 36.53%.

Insider Buying and Selling

In other news, insider Kevin Hester sold 7,128 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $28.67, for a total transaction of $204,359.76. Following the completion of the sale, the insider owned 124,912 shares of the company’s stock, valued at approximately $3,581,227.04. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Stephen Tipton sold 24,159 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $27.52, for a total value of $664,855.68. Following the completion of the sale, the chief executive officer owned 53,308 shares in the company, valued at $1,467,036.16. The trade was a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,787 shares of company stock worth $937,840 in the last three months. Corporate insiders own 6.30% of the company’s stock.

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