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

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $29.11, but opened at $28.20. Home Bancshares, Inc. (Conway, AR) shares last traded at $28.99, with a volume of 249,042 shares.

The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). The firm had revenue of $258.40 million during the quarter, compared to analyst estimates of $256.67 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 26.69% and a return on equity of 10.33%. Home Bancshares, Inc. (Conway, AR)’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS.

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

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is presently 40.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Stephens increased their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a report on Friday, October 18th. Piper Sandler boosted their price objective on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.50.

Insiders Place Their Bets

In related news, Director James Pat Hickman sold 63,997 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $30.77, for a total value of $1,969,187.69. Following the completion of the sale, the director now directly owns 175,500 shares of the company’s stock, valued at $5,400,135. The trade was a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer C. Floyd sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.18, for a total value of $60,360.00. Following the sale, the chief accounting officer now owns 3,468 shares in the company, valued at $104,664.24. The trade was a 36.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,997 shares of company stock worth $2,782,548 in the last quarter. 7.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of institutional investors have recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in 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 lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 49.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock worth $35,000 after buying an additional 427 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of Home Bancshares, Inc. (Conway, AR) in the 4th quarter valued at about $40,000. Blue Trust Inc. grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 41.6% during the 3rd quarter. Blue Trust Inc. now owns 1,797 shares of the financial services provider’s stock valued at $49,000 after buying an additional 528 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Home Bancshares, Inc. (Conway, AR) in the second quarter worth about $75,000. 67.31% of the stock is currently owned by institutional investors.

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

The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 14.96 and a beta of 1.10. The stock has a 50 day simple moving average of $29.77 and a 200 day simple moving average of $27.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.44.

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.