T. Rowe Price Investment Management Inc. Has $237.59 Million Stake in Home BancShares, Inc. $HOMB

T. Rowe Price Investment Management Inc. raised its position in Home BancShares, Inc. (NYSE:HOMB) by 2.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,404,440 shares of the financial services provider’s stock after buying an additional 196,563 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Home BancShares were worth $237,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Home BancShares during the 1st quarter worth approximately $39,000. Summit Securities Group LLC bought a new stake in Home BancShares during the first quarter worth $64,000. GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 995 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of 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 purchasing an additional 647 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Home BancShares by 60.5% in the 1st quarter. Fifth Third Bancorp now owns 3,468 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,307 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home BancShares Trading Up 0.3%

Shares of HOMB stock opened at $28.7650 on Thursday. Home BancShares, Inc. has a twelve month low of $24.22 and a twelve month high of $32.90. The stock’s fifty day simple moving average is $28.62 and its 200 day simple moving average is $28.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $5.67 billion, a P/E ratio of 13.13 and a beta of 0.78.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $271.03 million for the quarter, compared to analyst estimates of $262.56 million. Home BancShares had a return on equity of 10.60% and a net margin of 29.58%.The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. As a group, sell-side analysts predict that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 13th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 13th. This represents a $0.80 annualized dividend and a yield of 2.8%. Home BancShares’s dividend payout ratio (DPR) is currently 36.53%.

Insiders Place Their Bets

In other Home BancShares news, CEO John Stephen Tipton sold 24,159 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 53,308 shares in the company, valued at approximately $1,467,036.16. This represents a 31.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HOMB. Wall Street Zen downgraded Home BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Piper Sandler boosted their target price on Home BancShares from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.20.

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.