Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Hits New 1-Year High – Time to Buy?

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $31.33 and last traded at $31.17, with a volume of 275813 shares changing hands. The stock had previously closed at $31.25.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stephens boosted 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 report on Friday, October 18th. StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Sandler lifted their price objective on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Friday, October 18th. Three equities 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, the company currently has a consensus rating of “Hold” and a consensus target price of $28.25.

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

The business’s fifty day moving average is $27.36 and its 200-day moving average is $25.90. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.44. The company has a market cap of $6.09 billion, a PE ratio of 15.79 and a beta of 1.05.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The business had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $258.90 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. As a group, research analysts predict that Home Bancshares, Inc. will post 2.04 EPS for the current fiscal year.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is currently 40.21%.

Insider Activity at Home Bancshares, Inc. (Conway, AR)

In related news, Director Jack Engelkes sold 25,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total transaction of $753,000.00. Following the sale, the director now owns 199,195 shares of the company’s stock, valued at approximately $5,999,753.40. This trade represents a 11.15 % 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, CAO Jennifer C. Floyd sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.18, for a total value of $60,360.00. Following the completion of the transaction, the chief accounting officer now owns 3,468 shares of the company’s stock, valued at $104,664.24. The trade was a 36.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of hedge funds and other institutional investors have recently modified their holdings of HOMB. International Assets Investment Management LLC increased its holdings in Home Bancshares, Inc. (Conway, AR) by 2,609.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,301,295 shares of the financial services provider’s stock valued at $352,520,000 after acquiring an additional 1,253,259 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 6,550,418 shares of the financial services provider’s stock worth $156,946,000 after purchasing an additional 490,718 shares during the last quarter. AQR Capital Management LLC boosted its stake in Home Bancshares, Inc. (Conway, AR) by 465.2% during the second quarter. AQR Capital Management LLC now owns 321,517 shares of the financial services provider’s stock valued at $7,671,000 after buying an additional 264,627 shares during the last quarter. Creative Planning grew its holdings in Home Bancshares, Inc. (Conway, AR) by 38.2% during the 2nd quarter. Creative Planning now owns 601,926 shares of the financial services provider’s stock valued at $14,422,000 after buying an additional 166,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Home Bancshares, Inc. (Conway, AR) by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,046,153 shares of the financial services provider’s stock worth $55,430,000 after acquiring an additional 134,741 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

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.