Home BancShares (NYSE:HOMB) Price Target Raised to $32.00

Home BancShares (NYSE:HOMB) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 3.10% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Home BancShares in a report on Thursday. Wall Street Zen downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Benchmark started coverage on shares of Home BancShares in a research note on Wednesday, June 24th. They issued a “hold” rating for the company. Finally, Stephens decreased their price objective on shares of Home BancShares from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Home BancShares has a consensus rating of “Hold” and a consensus price target of $32.20.

Home BancShares Stock Up 1.1%

Home BancShares stock traded up $0.35 during midday trading on Friday, hitting $31.04. 340,440 shares of the company were exchanged, compared to its average volume of 1,580,099. Home BancShares has a fifty-two week low of $25.50 and a fifty-two week high of $31.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $6.25 billion, a PE ratio of 12.84 and a beta of 0.68. The company’s fifty day moving average price is $27.59 and its 200-day moving average price is $27.80.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $295.10 million during the quarter, compared to analysts’ expectations of $288.70 million. Home BancShares had a return on equity of 11.29% and a net margin of 32.10%.The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. On average, research analysts predict that Home BancShares will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling at Home BancShares

In related news, CAO Jennifer C. Floyd sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total transaction of $81,330.00. Following the transaction, the chief accounting officer directly owned 4,635 shares of the company’s stock, valued at approximately $125,654.85. This represents a 39.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.39% of the stock is owned by corporate insiders.

Institutional Trading of Home BancShares

Several hedge funds and other institutional investors have recently modified their holdings of HOMB. Root Financial Partners LLC boosted its stake in Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock valued at $29,000 after buying an additional 474 shares during the period. CIBC Private Wealth Group LLC grew its position in Home BancShares by 164.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 674 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Home BancShares in the 4th quarter worth $36,000. Covestor Ltd grew its stake in shares of Home BancShares by 110.6% during the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock valued at $37,000 after buying an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc increased its holdings in shares of Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after buying an additional 577 shares during the period. Institutional investors own 67.31% of the company’s stock.

Home BancShares Company 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.