Hsbc Holdings PLC Invests $4.63 Million in Home BancShares, Inc. $HOMB

Hsbc Holdings PLC purchased a new position in shares of Home BancShares, Inc. (NYSE:HOMB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 161,378 shares of the financial services provider’s stock, valued at approximately $4,628,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC lifted its position in Home BancShares by 76.9% during the 1st quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 474 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Home BancShares by 164.8% in 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 purchasing an additional 674 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Home BancShares in the fourth quarter valued at approximately $36,000. Covestor Ltd raised 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 worth $37,000 after purchasing an additional 697 shares during the last quarter. Finally, Binnacle Investments Inc raised its stake in shares of 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 purchasing an additional 577 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

Home BancShares Stock Down 0.0%

Home BancShares stock opened at $29.66 on Friday. The stock’s 50 day moving average price is $30.01 and its 200 day moving average price is $28.24. Home BancShares, Inc. has a 1-year low of $25.50 and a 1-year high of $31.70. The company has a market cap of $5.93 billion, a PE ratio of 12.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

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

Home BancShares Increases Dividend

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

Insider Buying and Selling at Home BancShares

In other news, CEO John Stephen Tipton sold 12,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the transaction, the chief executive officer owned 76,308 shares in the company, valued at $2,410,569.72. This trade represents a 13.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HOMB has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Benchmark assumed coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating for the company. Weiss Ratings upgraded shares of Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their target price on shares of Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Finally, Stephens lifted their target price on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a report 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

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.