Zacks: Brokerages Expect Home Bancshares Inc (NASDAQ:HOMB) Will Post Quarterly Sales of $164.53 Million

Wall Street analysts expect Home Bancshares Inc (NASDAQ:HOMB) to report sales of $164.53 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Home Bancshares’ earnings. The highest sales estimate is $168.20 million and the lowest is $162.20 million. Home Bancshares reported sales of $163.79 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.5%. The firm is expected to report its next earnings results on Thursday, January 16th.

On average, analysts expect that Home Bancshares will report full year sales of $659.10 million for the current fiscal year, with estimates ranging from $655.10 million to $664.10 million. For the next year, analysts anticipate that the firm will report sales of $652.43 million, with estimates ranging from $640.60 million to $671.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Home Bancshares.

Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.44 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44. Home Bancshares had a net margin of 35.22% and a return on equity of 12.22%. The business had revenue of $167.47 million for the quarter, compared to the consensus estimate of $167.40 million. During the same period in the prior year, the business posted $0.46 earnings per share. Home Bancshares’s revenue for the quarter was up 1.0% compared to the same quarter last year.

A number of research firms have recently weighed in on HOMB. BidaskClub raised shares of Home Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup dropped their price target on shares of Home Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Stephens set a $22.00 price target on shares of Home Bancshares and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Zacks Investment Research downgraded shares of Home Bancshares from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.50.

In other Home Bancshares news, Director Alex R. Lieblong sold 15,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $19.02, for a total transaction of $285,300.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alex R. Lieblong sold 14,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $18.41, for a total transaction of $257,740.00. Following the transaction, the director now directly owns 587,388 shares in the company, valued at $10,813,813.08. The disclosure for this sale can be found here. Insiders have sold 108,500 shares of company stock worth $2,030,965 over the last three months. Company insiders own 8.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of HOMB. First Trust Advisors LP increased its position in Home Bancshares by 19.6% during the first quarter. First Trust Advisors LP now owns 265,652 shares of the financial services provider’s stock worth $4,668,000 after buying an additional 43,499 shares during the last quarter. Falcon Point Capital LLC boosted its holdings in Home Bancshares by 2.2% during the second quarter. Falcon Point Capital LLC now owns 121,746 shares of the financial services provider’s stock valued at $2,344,000 after acquiring an additional 2,614 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Home Bancshares by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 65,125 shares of the financial services provider’s stock valued at $1,254,000 after acquiring an additional 887 shares during the period. Arizona State Retirement System boosted its holdings in Home Bancshares by 0.7% during the second quarter. Arizona State Retirement System now owns 112,176 shares of the financial services provider’s stock valued at $2,161,000 after acquiring an additional 732 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Home Bancshares by 44.3% during the second quarter. SG Americas Securities LLC now owns 117,873 shares of the financial services provider’s stock valued at $2,270,000 after acquiring an additional 36,209 shares during the period. 67.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ HOMB traded down $0.12 during mid-day trading on Wednesday, reaching $18.70. The company had a trading volume of 749,634 shares, compared to its average volume of 675,908. Home Bancshares has a twelve month low of $15.35 and a twelve month high of $20.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $3.14 billion, a PE ratio of 10.69 and a beta of 1.21. The stock’s 50 day moving average is $18.69 and its 200-day moving average is $18.61.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.78%. The ex-dividend date is Tuesday, November 12th. Home Bancshares’s payout ratio is 29.71%.

About Home Bancshares

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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Earnings History and Estimates for Home Bancshares (NASDAQ:HOMB)

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