Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

HOMB has been the subject of several other research reports. Stephens increased their target price 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. Piper Sandler increased their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Home Bancshares, Inc. (Conway, AR) has a consensus rating of “Hold” and an average price target of $28.25.

Home Bancshares, Inc. (Conway, AR) Trading Down 1.4 %

Home Bancshares, Inc. (Conway, AR) stock opened at $27.29 on Thursday. The business has a 50-day simple moving average of $27.05 and a two-hundred day simple moving average of $25.54. Home Bancshares, Inc. has a 52-week low of $19.92 and a 52-week high of $28.99. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.45 billion, a P/E ratio of 14.06 and a beta of 1.05.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a net margin of 26.69% and a return on equity of 10.33%. The company had revenue of $258.00 million for the quarter, compared to the consensus estimate of $258.90 million. During the same period in the prior year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that Home Bancshares, Inc. will post 2.05 EPS for the current year.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.78 annualized dividend and a dividend yield of 2.86%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is presently 40.21%.

Institutional Trading of Home Bancshares, Inc. (Conway, AR)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Michigan Retirement System increased its stake in Home Bancshares, Inc. (Conway, AR) by 2.2% in the first quarter. State of Michigan Retirement System now owns 46,030 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 1,000 shares during the period. BNP Paribas Financial Markets increased its stake in Home Bancshares, Inc. (Conway, AR) by 72.9% in the 1st quarter. BNP Paribas Financial Markets now owns 99,304 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 41,872 shares during the period. Central Pacific Bank Trust Division bought a new stake in Home Bancshares, Inc. (Conway, AR) during the 1st quarter valued at about $168,000. Texas Permanent School Fund Corp grew its stake in Home Bancshares, Inc. (Conway, AR) by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 164,027 shares of the financial services provider’s stock worth $4,030,000 after acquiring an additional 1,927 shares in the last quarter. Finally, Tectonic Advisors LLC grew its stake in Home Bancshares, Inc. (Conway, AR) by 23.3% in the 1st quarter. Tectonic Advisors LLC now owns 52,839 shares of the financial services provider’s stock worth $1,298,000 after acquiring an additional 9,988 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

About Home Bancshares, Inc. (Conway, AR)

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.