Fisher Asset Management LLC Sells 125,604 Shares of Home BancShares, Inc. $HOMB

Fisher Asset Management LLC cut its stake in shares of Home BancShares, Inc. (NYSE:HOMB) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,956,928 shares of the financial services provider’s stock after selling 125,604 shares during the quarter. Fisher Asset Management LLC’s holdings in Home BancShares were worth $54,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HOMB. First Trust Advisors LP grew its holdings in shares of Home BancShares by 52.5% during the 3rd quarter. First Trust Advisors LP now owns 2,230,065 shares of the financial services provider’s stock valued at $63,111,000 after purchasing an additional 767,844 shares during the last quarter. Vanguard Group Inc. grew its holdings in Home BancShares by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock worth $567,372,000 after acquiring an additional 621,751 shares during the last quarter. AQR Capital Management LLC grew its holdings in Home BancShares by 82.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock worth $31,716,000 after acquiring an additional 508,127 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Home BancShares during the 2nd quarter worth approximately $12,931,000. Finally, Bank of America Corp DE grew its holdings in Home BancShares by 68.9% during the 3rd quarter. Bank of America Corp DE now owns 845,914 shares of the financial services provider’s stock worth $23,939,000 after acquiring an additional 345,027 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

Home BancShares Trading Up 0.6%

NYSE:HOMB opened at $26.77 on Wednesday. The firm’s fifty day moving average is $26.79 and its 200-day moving average is $27.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. Home BancShares, Inc. has a 52 week low of $25.50 and a 52 week high of $30.83. The firm has a market cap of $5.39 billion, a P/E ratio of 11.02 and a beta of 0.69.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. Home BancShares had a net margin of 32.48% and a return on equity of 11.11%. The company had revenue of $266.71 million for the quarter, compared to analyst estimates of $274.06 million. During the same period in the prior year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts expect that Home BancShares, Inc. will post 2.48 earnings per share for the current year.

Home BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, May 13th. Home BancShares’s dividend payout ratio is currently 34.57%.

Insiders Place Their Bets

In other news, CEO John W. Allison acquired 100,000 shares of Home BancShares stock in a transaction dated Friday, April 17th. The shares were bought at an average cost of $26.96 per share, with a total value of $2,696,000.00. Following the purchase, the chief executive officer owned 5,798,926 shares in the company, valued at $156,339,044.96. This trade represents a 1.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer C. Floyd sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total transaction of $81,330.00. Following the completion of the sale, the chief accounting officer directly owned 4,635 shares in the company, valued at approximately $125,654.85. This represents a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HOMB. Zacks Research lowered shares of Home BancShares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Keefe, Bruyette & Woods reduced their target price on shares of Home BancShares from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Monday, April 20th. Cantor Fitzgerald reissued a “neutral” rating and set a $30.00 target price (down from $31.00) on shares of Home BancShares in a report on Tuesday, May 19th. Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Finally, Stephens reduced their target price on shares of Home BancShares from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.20.

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.