John Allison Purchases 100,000 Shares of Home BancShares (NYSE:HOMB) Stock

Home BancShares, Inc. (NYSE:HOMB) CEO John Allison bought 100,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of $26.96 per share, with a total value of $2,696,000.00. Following the acquisition, the chief executive officer directly owned 5,798,926 shares of the company’s stock, valued at approximately $156,339,044.96. This represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Home BancShares Price Performance

Shares of Home BancShares stock traded up $0.26 during trading hours on Monday, reaching $27.15. 1,336,152 shares of the company’s stock were exchanged, compared to its average volume of 1,420,287. Home BancShares, Inc. has a 1 year low of $25.67 and a 1 year high of $30.83. The company has a market capitalization of $5.34 billion, a P/E ratio of 11.20 and a beta of 0.75. The business has a fifty day moving average of $27.68 and a two-hundred day moving average of $27.92. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.18.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%. The business had revenue of $266.71 million during the quarter, compared to analyst estimates of $274.06 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. Home BancShares’s dividend payout ratio is presently 34.57%.

Institutional Trading of Home BancShares

Several hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Home BancShares during the fourth quarter worth approximately $66,673,000. First Trust Advisors LP increased its stake in shares of Home BancShares by 37.3% during the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock worth $85,031,000 after buying an additional 830,823 shares during the period. Vanguard Group Inc. increased its stake in shares of Home BancShares by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock worth $567,372,000 after buying an additional 621,751 shares during the period. AQR Capital Management LLC increased its stake in shares of Home BancShares by 82.9% during the third quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock worth $31,716,000 after buying an additional 508,127 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Home BancShares during the second quarter worth approximately $12,931,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOMB. Zacks Research cut shares of Home BancShares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Wall Street Zen cut shares of Home BancShares from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods lowered their price target on shares of Home BancShares from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Monday. Piper Sandler set a $33.00 price target on shares of Home BancShares and gave the company an “overweight” rating in a research report on Friday. Finally, Cantor Fitzgerald lowered their price target on shares of Home BancShares from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.40.

About Home BancShares

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.