Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Gap Down Following Weak Earnings

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $27.45, but opened at $26.10. Home Bancshares, Inc. (Conway, AR) shares last traded at $27.24, with a volume of 57,913 shares.

The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $258.00 million for the quarter, compared to the consensus estimate of $258.90 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 27.29% and a return on equity of 10.41%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share.

Home Bancshares, Inc. (Conway, AR) Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th were given a dividend of $0.195 per share. This is a boost from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Wednesday, August 14th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is 40.21%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HOMB. Piper Sandler raised their target price on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada increased their price objective on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Finally, Stephens restated an “overweight” rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.25.

Insider Buying and Selling

In other Home Bancshares, Inc. (Conway, AR) news, CFO Brian Davis sold 15,391 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $26.89, for a total value of $413,863.99. Following the transaction, the chief financial officer now directly owns 89,192 shares of the company’s stock, valued at approximately $2,398,372.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Kevin Hester sold 25,263 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $27.00, for a total value of $682,101.00. Following the transaction, the insider now directly owns 114,912 shares of the company’s stock, valued at approximately $3,102,624. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian Davis sold 15,391 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $26.89, for a total value of $413,863.99. Following the sale, the chief financial officer now directly owns 89,192 shares of the company’s stock, valued at $2,398,372.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HOMB. EntryPoint Capital LLC bought a new stake in Home Bancshares, Inc. (Conway, AR) during the 1st quarter worth approximately $31,000. UMB Bank n.a. boosted its position in shares of Home Bancshares, Inc. (Conway, AR) by 186.2% in the third quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 795 shares during the period. GAMMA Investing LLC increased its stake in shares of Home Bancshares, Inc. (Conway, AR) by 49.7% in the third quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 427 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the 2nd quarter valued at $75,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Home Bancshares, Inc. (Conway, AR) during the 2nd quarter valued at $81,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

Home Bancshares, Inc. (Conway, AR) Price Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $5.46 billion, a P/E ratio of 14.05 and a beta of 1.05. The firm’s fifty day moving average is $26.86 and its two-hundred day moving average is $25.28.

Home Bancshares, Inc. (Conway, AR) 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.