Home Bancshares (NASDAQ:HOMB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Home Bancshares (NASDAQ:HOMB) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “

A number of other equities analysts also recently issued reports on HOMB. Piper Jaffray Companies set a $22.00 price objective on Home Bancshares and gave the stock a buy rating in a report on Friday, July 19th. BidaskClub downgraded Home Bancshares from a hold rating to a sell rating in a report on Friday, September 6th. Finally, TheStreet upgraded Home Bancshares from a c+ rating to a b- rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Home Bancshares currently has an average rating of Hold and an average price target of $23.40.



HOMB opened at $19.22 on Tuesday. The stock has a fifty day simple moving average of $18.24 and a two-hundred day simple moving average of $18.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 10.98 and a beta of 1.21. Home Bancshares has a 12-month low of $15.35 and a 12-month high of $23.67.

Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $164.05 million during the quarter, compared to the consensus estimate of $166.83 million. Home Bancshares had a return on equity of 12.64% and a net margin of 36.19%. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, analysts predict that Home Bancshares will post 1.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th were issued a $0.13 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.52 dividend on an annualized basis and a yield of 2.71%. Home Bancshares’s dividend payout ratio (DPR) is 29.71%.

In other news, COO John Stephen Tipton sold 8,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.51, for a total transaction of $157,335.00. Following the completion of the transaction, the chief operating officer now directly owns 12,974 shares in the company, valued at $240,148.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Russell Davis Carter III sold 7,500 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $18.29, for a total value of $137,175.00. Following the transaction, the insider now owns 8,759 shares of the company’s stock, valued at $160,202.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,719 shares of company stock valued at $1,219,031. 8.70% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of HOMB. Northern Trust Corp increased its holdings in shares of Home Bancshares by 46.0% during the second quarter. Northern Trust Corp now owns 3,581,175 shares of the financial services provider’s stock valued at $68,973,000 after acquiring an additional 1,128,511 shares in the last quarter. Prudential PLC bought a new position in shares of Home Bancshares during the second quarter valued at $21,113,000. JPMorgan Chase & Co. increased its holdings in shares of Home Bancshares by 272.9% during the second quarter. JPMorgan Chase & Co. now owns 791,438 shares of the financial services provider’s stock valued at $15,148,000 after acquiring an additional 579,205 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Home Bancshares by 46.1% during the second quarter. Copeland Capital Management LLC now owns 1,523,783 shares of the financial services provider’s stock valued at $29,349,000 after acquiring an additional 481,025 shares in the last quarter. Finally, Barr E S & Co. increased its holdings in shares of Home Bancshares by 22.1% during the second quarter. Barr E S & Co. now owns 2,426,357 shares of the financial services provider’s stock valued at $46,732,000 after acquiring an additional 439,844 shares in the last quarter. Hedge funds and other institutional investors own 65.82% 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, NOW, demand, and money market accounts, as well as certificates of deposit.

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