Insider Selling: Home BancShares (NYSE:HOMB) CEO Sells 12,000 Shares of Stock

Home BancShares, Inc. (NYSE:HOMB) CEO John Stephen Tipton sold 12,000 shares of the firm’s 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 trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Home BancShares Stock Performance

Home BancShares stock traded down $0.18 during mid-day trading on Wednesday, reaching $31.23. The company’s stock had a trading volume of 1,409,604 shares, compared to its average volume of 1,615,962. The firm’s fifty day moving average price is $28.80 and its two-hundred day moving average price is $28.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. Home BancShares, Inc. has a 12-month low of $25.50 and a 12-month high of $31.70. The company has a market capitalization of $6.29 billion, a P/E ratio of 12.90 and a beta of 0.69.

Home BancShares (NYSE:HOMB) last posted its earnings results 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 11.25% and a net margin of 32.10%.The firm had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. During the same quarter in the prior year, the business posted $0.58 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a boost from Home BancShares’s previous quarterly dividend of $0.21. Home BancShares’s payout ratio is presently 34.71%.

Institutional Trading of Home BancShares

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Home BancShares during the fourth quarter worth about $66,673,000. First Trust Advisors LP lifted its position in Home BancShares by 37.3% during the fourth quarter. First Trust Advisors LP now owns 3,060,888 shares of the financial services provider’s stock valued at $85,031,000 after purchasing an additional 830,823 shares during the last quarter. Vanguard Group Inc. grew its stake in Home BancShares by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 20,423,768 shares of the financial services provider’s stock worth $567,372,000 after buying an additional 621,751 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Home BancShares by 9.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,491 shares of the financial services provider’s stock worth $180,979,000 after buying an additional 559,603 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Home BancShares by 82.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock valued at $31,716,000 after buying an additional 508,127 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Home BancShares in a research report on Thursday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Wall Street Zen upgraded shares of Home BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Benchmark assumed coverage on shares of Home BancShares in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Finally, Weiss Ratings upgraded shares of Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.67.

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.