Home BancShares (NYSE:HOMB) Posts Quarterly Earnings Results, Meets Expectations

Home BancShares (NYSE:HOMB) posted its earnings results on Wednesday. The financial services provider reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58, Zacks reports. Home BancShares had a return on equity of 10.67% and a net margin of 29.58%. The firm had revenue of $271.03 million during the quarter, compared to analyst estimates of $262.56 million. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.

Home BancShares Stock Up 2.1%

HOMB stock opened at $29.12 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $28.65 and a 200 day simple moving average of $28.55. Home BancShares has a 1 year low of $24.22 and a 1 year high of $32.91. The firm has a market cap of $5.75 billion, a PE ratio of 13.30 and a beta of 0.79.

Home BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. This is a boost from Home BancShares’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, May 14th. Home BancShares’s dividend payout ratio (DPR) is presently 36.53%.

Insider Transactions at Home BancShares

In other Home BancShares news, CAO Jennifer C. Floyd sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.45, for a total value of $68,625.00. Following the completion of the sale, the chief accounting officer owned 4,301 shares of the company’s stock, valued at $118,062.45. The trade was a 36.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Stephen Tipton sold 24,159 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $27.52, for a total transaction of $664,855.68. Following the completion of the transaction, the chief executive officer directly owned 53,308 shares of the company’s stock, valued at approximately $1,467,036.16. The trade was a 31.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,787 shares of company stock worth $937,840. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Home BancShares stock. Jane Street Group LLC lifted its stake in Home BancShares, Inc. (NYSE:HOMB) by 82.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,814 shares of the financial services provider’s stock after purchasing an additional 125,301 shares during the period. Jane Street Group LLC owned 0.14% of Home BancShares worth $7,826,000 as of its most recent SEC filing. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HOMB. Stephens restated an “overweight” rating and issued a $33.00 price target on shares of Home BancShares in a research note on Monday, April 21st. Royal Bank Of Canada dropped their price objective on Home BancShares from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen raised Home BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.40.

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