Home BancShares (NYSE:HOMB) Hits New 1-Year Low – Time to Sell?

Home BancShares, Inc. (NYSE:HOMB)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $17.08 and last traded at $27.4220, with a volume of 9822 shares changing hands. The stock had previously closed at $27.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. Piper Sandler set a $34.00 target price on Home BancShares and gave the company an “overweight” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home BancShares in a report on Wednesday, October 8th. Cantor Fitzgerald began coverage on Home BancShares in a research note on Wednesday, September 10th. They set a “neutral” rating and a $32.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their price objective on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, July 21st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Home BancShares Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.37 billion, a PE ratio of 11.77 and a beta of 0.81. The business has a 50 day simple moving average of $27.94 and a 200 day simple moving average of $28.45.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, October 15th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Home BancShares had a net margin of 31.20% and a return on equity of 10.94%. The company had revenue of $277.67 million during the quarter, compared to analysts’ expectations of $269.96 million. During the same period last year, the business earned $0.50 EPS. Home BancShares’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts predict that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a $0.21 dividend. This is a positive change from Home BancShares’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, November 12th. This represents a $0.84 dividend on an annualized basis and a yield of 3.1%. Home BancShares’s dividend payout ratio (DPR) is 36.21%.

Insider Buying and Selling

In other Home BancShares news, CEO John W. Allison sold 110,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the sale, the chief executive officer owned 5,540,776 shares in the company, valued at approximately $166,334,095.52. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Home BancShares

A number of large investors have recently bought and sold shares of HOMB. M&T Bank Corp lifted its stake in Home BancShares by 8.5% during the 1st quarter. M&T Bank Corp now owns 13,207 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 1,036 shares during the period. Cerity Partners LLC boosted its stake in shares of Home BancShares by 48.0% in the first quarter. Cerity Partners LLC now owns 18,804 shares of the financial services provider’s stock worth $532,000 after buying an additional 6,102 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Home BancShares by 134.0% during the first quarter. Edgestream Partners L.P. now owns 65,328 shares of the financial services provider’s stock worth $1,847,000 after acquiring an additional 37,405 shares during the period. Victory Capital Management Inc. boosted its position in Home BancShares by 0.4% in the 1st quarter. Victory Capital Management Inc. now owns 273,007 shares of the financial services provider’s stock worth $7,718,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Home BancShares during the 1st quarter worth approximately $467,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

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.