Home BancShares (NYSE:HOMB) Raised to “Hold” at Wall Street Zen

Home BancShares (NYSE:HOMB) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Several other analysts also recently weighed in on HOMB. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Benchmark began coverage on shares of Home BancShares in a research report on Wednesday, June 24th. They issued 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. Stephens lifted their price target on Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Citigroup reiterated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.67.

Home BancShares Price Performance

Shares of NYSE HOMB opened at $31.14 on Friday. Home BancShares has a 1-year low of $25.50 and a 1-year high of $31.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average price is $29.58 and its two-hundred day moving average price is $28.19. The firm has a market capitalization of $6.23 billion, a PE ratio of 12.87 and a beta of 0.69.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, research analysts expect that Home BancShares will post 2.51 EPS for the current year.

Insider Activity at Home BancShares

In other Home BancShares news, CEO John Stephen Tipton sold 12,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total transaction of $379,080.00. Following the sale, the chief executive officer directly owned 76,308 shares in the company, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Home BancShares by 3.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,497 shares of the financial services provider’s stock worth $12,453,000 after purchasing an additional 15,259 shares in the last quarter. Jane Street Group LLC lifted its position in Home BancShares by 82.7% in the first quarter. Jane Street Group LLC now owns 276,814 shares of the financial services provider’s stock worth $7,826,000 after purchasing an additional 125,301 shares during the period. Baird Financial Group Inc. boosted its stake in Home BancShares by 13.2% during the 2nd quarter. Baird Financial Group Inc. now owns 21,500 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 2,500 shares in the last quarter. Marshall Wace LLP bought a new position in Home BancShares during the 2nd quarter valued at $1,015,000. Finally, Jump Financial LLC acquired a new position in shares of Home BancShares during the 2nd quarter valued at $230,000. 67.31% of the stock is currently owned by institutional investors.

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.