Hovde Group Lowers Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Price Target to $35.00

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) had its price objective dropped by stock analysts at Hovde Group from $36.00 to $35.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective suggests a potential upside of 15.01% from the company’s current price.

A number of other brokerages also recently commented on HOMB. Keefe, Bruyette & Woods boosted their target price on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens reiterated an “overweight” rating and set a $34.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday. StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Finally, Piper Sandler raised 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 report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Home Bancshares, Inc. (Conway, AR) Trading Up 3.4 %

NYSE:HOMB opened at $30.43 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a 50-day simple moving average of $29.78 and a 200-day simple moving average of $27.86. Home Bancshares, Inc. has a one year low of $22.38 and a one year high of $32.90. The firm has a market cap of $6.05 billion, a P/E ratio of 15.69 and a beta of 1.10.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). The company had revenue of $258.40 million for the quarter, compared to the consensus estimate of $256.67 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 26.69% and a return on equity of 10.33%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. Equities analysts anticipate that Home Bancshares, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jack Engelkes sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the completion of the transaction, the director now directly owns 199,195 shares in the company, valued at $5,999,753.40. This trade represents a 11.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Pat Hickman sold 63,997 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 owns 175,500 shares in the company, valued at approximately $5,400,135. This represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,997 shares of company stock worth $2,782,548 in the last 90 days. Insiders own 7.66% of the company’s stock.

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

Several hedge funds have recently added to or reduced their stakes in HOMB. Envestnet Asset Management Inc. raised its stake in shares of Home Bancshares, Inc. (Conway, AR) by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 475,221 shares of the financial services provider’s stock valued at $11,386,000 after buying an additional 4,873 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Home Bancshares, Inc. (Conway, AR) by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 6,550,418 shares of the financial services provider’s stock valued at $156,946,000 after acquiring an additional 490,718 shares in the last quarter. Argent Trust Co acquired a new position in Home Bancshares, Inc. (Conway, AR) in the second quarter valued at approximately $228,000. Vanguard Personalized Indexing Management LLC boosted its position in Home Bancshares, Inc. (Conway, AR) by 13.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,782 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the 2nd quarter worth approximately $243,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

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.