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

Home BancShares (NYSE:HOMB) had its target price increased by Cantor Fitzgerald from $31.00 to $32.00 in a report published on Monday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of Home BancShares from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. UBS Group reiterated a “buy” rating on shares of Home BancShares in a research report on Friday, October 16th. Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Keefe, Bruyette & Woods boosted their target price on shares of Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Finally, Hovde Group began coverage on Home BancShares in a report on Tuesday, September 8th. They issued an “outperform” rating and a $34.00 target price for the company. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.71.

Home BancShares Price Performance

NYSE HOMB opened at $30.23 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. Home BancShares has a 1 year low of $25.50 and a 1 year high of $31.70. The company has a market cap of $6.01 billion, a PE ratio of 12.14 and a beta of 0.73. The stock’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $28.61.

Home BancShares (NYSE:HOMB) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $288.44 million during the quarter, compared to analysts’ expectations of $294.42 million. Home BancShares had a net margin of 32.36% and a return on equity of 11.14%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. On average, analysts predict that Home BancShares will post 2.53 EPS for the current year.

Home BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. Home BancShares’s dividend payout ratio is currently 37.70%.

Insider Activity

In other news, Director John W. Allison II sold 13,500 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $30.06, for a total value of $405,810.00. Following the completion of the sale, the director directly owned 636,495 shares of the company’s stock, valued at $19,133,039.70. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Home BancShares in the 2nd quarter valued at approximately $735,643,000. Dimensional Fund Advisors LP boosted its stake in shares of Home BancShares by 9.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,491 shares of the financial services provider’s stock valued at $180,979,000 after buying an additional 559,603 shares during the period. First Trust Advisors LP boosted its stake in shares of Home BancShares by 13.4% during the 1st quarter. First Trust Advisors LP now owns 3,471,607 shares of the financial services provider’s stock valued at $93,490,000 after buying an additional 410,719 shares during the period. Barr E S & Co. boosted its stake in shares of Home BancShares by 0.9% during the 3rd quarter. Barr E S & Co. now owns 2,480,662 shares of the financial services provider’s stock valued at $69,905,000 after buying an additional 22,074 shares during the period. Finally, Azora Capital LP acquired a new stake in shares of Home BancShares during the 2nd quarter valued at $62,027,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

Home BancShares Company Profile

Home BancShares, Inc. is a bank holding company headquartered in Conway, Arkansas. Founded in 1998, it provides banking services through its principal subsidiary, Centennial Bank. Centennial Bank serves customers in Arkansas, Florida, Alabama and Texas. Its offerings include personal and business deposit accounts, loans, mortgages, and other commercial and retail banking services. The company serves individuals, businesses and organizations, with products and services tailored to both consumer and commercial banking needs.