Hodges Capital Management Inc. Sells 9,300 Shares of Home BancShares, Inc. $HOMB

Hodges Capital Management Inc. lowered its position in shares of Home BancShares, Inc. (NYSE:HOMB) by 4.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 195,800 shares of the financial services provider’s stock after selling 9,300 shares during the period. Hodges Capital Management Inc.’s holdings in Home BancShares were worth $5,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Home BancShares in the 1st quarter valued at $39,000. Summit Securities Group LLC purchased a new stake in shares of Home BancShares in the first quarter worth $64,000. Hantz Financial Services Inc. boosted its stake in Home BancShares by 4,480.3% during the second quarter. Hantz Financial Services Inc. now owns 2,794 shares of the financial services provider’s stock valued at $80,000 after buying an additional 2,733 shares during the period. UMB Bank n.a. boosted its stake in Home BancShares by 25.6% during the second quarter. UMB Bank n.a. now owns 3,323 shares of the financial services provider’s stock valued at $95,000 after buying an additional 677 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Home BancShares by 155.8% during the first quarter. Geneos Wealth Management Inc. now owns 3,817 shares of the financial services provider’s stock worth $108,000 after buying an additional 2,325 shares in the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Home BancShares Price Performance

Shares of Home BancShares stock opened at $27.45 on Monday. The firm has a market capitalization of $5.40 billion, a PE ratio of 11.83 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. Home BancShares, Inc. has a 12 month low of $24.22 and a 12 month high of $32.90. The business’s 50-day moving average price is $28.17 and its 200-day moving average price is $28.48.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, October 15th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $277.67 million during the quarter, compared to the consensus estimate of $269.96 million. Home BancShares had a return on equity of 10.94% and a net margin of 31.20%.Home BancShares’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Sell-side analysts forecast that Home BancShares, Inc. will post 2.19 EPS for the current fiscal year.

Home BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.20. Home BancShares’s dividend payout ratio (DPR) is presently 36.21%.

Analyst Upgrades and Downgrades

HOMB has been the topic of several recent analyst reports. Cantor Fitzgerald began coverage on Home BancShares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $32.00 price target on the stock. Piper Sandler set a $34.00 price objective on shares of Home BancShares and gave the stock an “overweight” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods raised 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 Monday, July 21st. Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Home BancShares in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Insider Activity

In related news, CEO John W. Allison sold 110,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $30.02, for a total transaction of $3,302,200.00. Following the transaction, the chief executive officer owned 5,540,776 shares of the company’s stock, valued at approximately $166,334,095.52. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.30% of the company’s stock.

Home BancShares Company Profile

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.