76,347 Shares in Home BancShares, Inc. $HOMB Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in Home BancShares, Inc. (NYSE:HOMB) in the second quarter, HoldingsChannel reports. The firm purchased 76,347 shares of the financial services provider’s stock, valued at approximately $2,180,000.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HOMB. Keefe, Bruyette & Woods boosted 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 Friday, July 17th. Weiss Ratings raised shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Citigroup reiterated a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Finally, Stephens lifted their price target on Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Home BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Home BancShares Stock Down 0.5%

Home BancShares stock opened at $29.89 on Wednesday. The company has a market cap of $5.98 billion, a P/E ratio of 12.35 and a beta of 0.69. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $31.70. The company has a fifty day simple moving average of $29.88 and a 200 day simple moving average of $28.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

Home BancShares (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The firm had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $288.70 million. During the same period in the previous year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts anticipate that Home BancShares, Inc. will post 2.51 earnings per share for the current fiscal year.

Home BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 12th. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.1%. Home BancShares’s dividend payout ratio is currently 38.02%.

Insider Buying and Selling

In related news, CEO John Stephen Tipton sold 12,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.59, for a total transaction of $379,080.00. Following the completion of the transaction, the chief executive officer directly owned 76,308 shares of the company’s stock, valued at approximately $2,410,569.72. This represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.39% of the company’s stock.

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.