Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Short Interest Down 5.9% in July

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 4,170,000 shares, a decrease of 5.9% from the July 15th total of 4,430,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 3.9 days.

Analysts Set New Price Targets

Several research analysts have recently commented on HOMB shares. Royal Bank of Canada lifted their price target on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. Stephens reissued an “overweight” rating and issued a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday, July 18th. StockNews.com raised shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler upped their price objective on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Three equities 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, the stock presently has a consensus rating of “Hold” and an average target price of $27.25.

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

Shares of HOMB stock opened at $26.51 on Wednesday. Home Bancshares, Inc. has a one year low of $19.61 and a one year high of $28.99. 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 firm’s 50 day moving average price is $25.34 and its 200-day moving average price is $24.30. The firm has a market cap of $5.31 billion, a P/E ratio of 13.66 and a beta of 1.07.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $254.60 million for the quarter, compared to analyst estimates of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 27.29% and a return on equity of 10.41%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, equities research analysts predict that Home Bancshares, Inc. will post 2.05 EPS for the current year.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.195 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is currently 40.21%.

Insider Buying and Selling at Home Bancshares, Inc. (Conway, AR)

In related news, CFO Brian Davis sold 15,391 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $26.89, for a total transaction of $413,863.99. Following the completion of the sale, the chief financial officer now directly owns 89,192 shares in the company, valued at $2,398,372.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Kevin Hester sold 25,263 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 114,912 shares in the company, valued at $3,102,624. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian Davis sold 15,391 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $26.89, for a total value of $413,863.99. Following the completion of the sale, the chief financial officer now directly owns 89,192 shares of the company’s stock, valued at approximately $2,398,372.88. The disclosure for this sale can be found here. Insiders own 7.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amarillo National Bank raised its position in Home Bancshares, Inc. (Conway, AR) by 96.8% in the 1st quarter. Amarillo National Bank now owns 101,649 shares of the financial services provider’s stock valued at $2,498,000 after purchasing an additional 50,000 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the fourth quarter worth approximately $2,478,000. Norges Bank acquired a new stake in Home Bancshares, Inc. (Conway, AR) in the fourth quarter valued at approximately $54,498,000. Cetera Advisors LLC purchased a new position in Home Bancshares, Inc. (Conway, AR) in the first quarter worth approximately $543,000. Finally, Louisiana State Employees Retirement System acquired a new position in Home Bancshares, Inc. (Conway, AR) during the 4th quarter worth approximately $1,335,000. 67.31% of the stock is currently 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.