Hsbc Holdings PLC Trims Stock Position in Home BancShares, Inc. $HOMB

Hsbc Holdings PLC lessened its holdings in Home BancShares, Inc. (NYSE:HOMB) by 37.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,024 shares of the financial services provider’s stock after selling 47,870 shares during the period. Hsbc Holdings PLC’s holdings in Home BancShares were worth $2,225,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HOMB. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Home BancShares by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider’s stock worth $12,453,000 after acquiring an additional 15,259 shares during the period. Jane Street Group LLC grew its position in shares of Home BancShares by 82.7% during the 1st quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider’s stock valued at $7,826,000 after acquiring an additional 125,301 shares during the period. Baird Financial Group Inc. increased its stake in shares of Home BancShares by 13.2% in the 2nd quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 2,500 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Home BancShares in the 2nd quarter worth $1,015,000. Finally, Jump Financial LLC bought a new position in Home BancShares in the 2nd quarter worth $230,000. 67.31% of the stock is currently owned by institutional investors.

Home BancShares Stock Down 1.9%

Shares of HOMB stock opened at $28.74 on Tuesday. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 11.83 and a beta of 0.68. Home BancShares, Inc. has a one year low of $25.50 and a one year high of $30.83. The company’s fifty day moving average price is $27.05 and its 200-day moving average price is $27.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

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

Home BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, May 13th. Home BancShares’s payout ratio is presently 34.57%.

Insider Activity

In related news, CAO Jennifer C. Floyd sold 3,000 shares of the stock in a transaction dated Tuesday, April 21st. The stock was 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 owned 4,635 shares in the company, valued at approximately $125,654.85. This trade represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Allison bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were acquired at an average cost of $26.96 per share, for a total transaction of $2,696,000.00. Following the purchase, the chief executive officer directly 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 SEC filing for this purchase provides additional information. 6.39% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on HOMB shares. Zacks Research downgraded Home BancShares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Piper Sandler set a $33.00 price target on Home BancShares and gave the stock an “overweight” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods decreased their price objective on Home BancShares from $32.00 to $30.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. Weiss Ratings cut Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Stephens cut their price objective on Home BancShares from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.20.

Home BancShares Profile

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.