The Home BancShares Inc. (HOMB) Issues Quarterly Earnings Results

The Home BancShares Inc. (HOMB) Issues Quarterly  Earnings Results

Home BancShares Inc. (NASDAQ:HOMB) released its earnings results on Thursday. The financial services provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Home BancShares had a net margin of 32.41% and a return on equity of 13.46%. During the same quarter last year, the business posted $0.56 earnings per share.

Shares of Home BancShares (NASDAQ:HOMB) opened at 26.30 on Thursday. The company has a market cap of $3.69 billion, a PE ratio of 22.31 and a beta of 1.05. The company has a 50-day moving average of $27.41 and a 200-day moving average of $23.25. Home BancShares has a 1-year low of $16.93 and a 1-year high of $44.76.

A number of research analysts have weighed in on the stock. Merion Capital Group lowered shares of Home BancShares from an “outperform” rating to a “neutral” rating in a research report on Friday, November 11th. Keefe, Bruyette & Woods lowered shares of Home BancShares from an “outperform” rating to a “market perform” rating and set a $23.00 price objective for the company. in a research report on Thursday, November 10th. Zacks Investment Research raised shares of Home BancShares from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, January 4th. Finally, Raymond James Financial Inc. lowered shares of Home BancShares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 15th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.61.

In other news, insider Kevin Hester sold 5,000 shares of Home BancShares stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $26.25, for a total value of $131,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alex R. Lieblong sold 65,000 shares of Home BancShares stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $28.09, for a total transaction of $1,825,850.00. Following the completion of the transaction, the director now directly owns 602,666 shares of the company’s stock, valued at approximately $16,928,887.94. The disclosure for this sale can be found here. 15.02% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clinton Group Inc. increased its position in shares of Home BancShares by 4.2% in the second quarter. Clinton Group Inc. now owns 18,915 shares of the financial services provider’s stock worth $374,000 after buying an additional 769 shares during the period. Profund Advisors LLC increased its position in shares of Home BancShares by 19.0% in the third quarter. Profund Advisors LLC now owns 18,882 shares of the financial services provider’s stock worth $393,000 after buying an additional 3,015 shares during the period. Bessemer Group Inc. increased its position in shares of Home BancShares by 100.0% in the second quarter. Bessemer Group Inc. now owns 7,986 shares of the financial services provider’s stock worth $158,000 after buying an additional 3,993 shares during the period. Citigroup Inc. increased its position in shares of Home BancShares by 10.2% in the second quarter. Citigroup Inc. now owns 77,677 shares of the financial services provider’s stock worth $1,537,000 after buying an additional 7,161 shares during the period. Finally, Veritable L.P. increased its position in shares of Home BancShares by 100.0% in the second quarter. Veritable L.P. now owns 15,822 shares of the financial services provider’s stock worth $313,000 after buying an additional 7,911 shares during the period. 61.08% of the stock is owned by institutional investors.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).

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