Several other research analysts also recently commented on HOMB. Keefe, Bruyette & Woods restated a “buy” rating and issued a $30.00 target price on shares of Home BancShares in a research note on Friday, December 22nd. Zacks Investment Research upgraded Home BancShares from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Tuesday, December 26th. Sandler O’Neill set a $26.00 price target on Home BancShares and gave the company a “hold” rating in a research report on Thursday, January 4th. BidaskClub downgraded Home BancShares from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Finally, Piper Jaffray reiterated a “hold” rating and set a $26.00 price target on shares of Home BancShares in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.33.
Home BancShares (NASDAQ:HOMB) was upgraded by equities researchers at FIG Partners from a “market-perform” rating to an “outperform” rating in a note issued to investors on Friday, April 20th. FIG Partners also issued estimates for Home BancShares’ Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.87 EPS.
Shares of HOMB opened at $23.69 on Friday. Home BancShares has a fifty-two week low of $20.82 and a fifty-two week high of $26.30. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $4.05 billion, a P/E ratio of 17.49 and a beta of 1.10.
Home BancShares (NASDAQ:HOMB) last issued its earnings results on Thursday, April 19th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Home BancShares had a return on equity of 11.35% and a net margin of 24.23%. The business had revenue of $186.70 million during the quarter, compared to the consensus estimate of $164.30 million. During the same quarter last year, the company earned $0.33 EPS. The firm’s revenue was up 32.4% compared to the same quarter last year. sell-side analysts expect that Home BancShares will post 1.76 earnings per share for the current year.
Home BancShares declared that its Board of Directors has authorized a share buyback plan on Thursday, February 22nd that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In other Home BancShares news, Director Richard H. Ashley sold 300,000 shares of Home BancShares stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $25.01, for a total value of $7,503,000.00. Following the transaction, the director now directly owns 145,354 shares of the company’s stock, valued at approximately $3,635,303.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John W. Allison purchased 20,000 shares of the firm’s stock in a transaction on Thursday, April 19th. The stock was bought at an average cost of $21.32 per share, for a total transaction of $426,400.00. Following the completion of the purchase, the chairman now directly owns 5,160,629 shares in the company, valued at $110,024,610.28. The disclosure for this purchase can be found here. Company insiders own 9.15% of the company’s stock.
A number of institutional investors have recently made changes to their positions in HOMB. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Home BancShares by 43.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock valued at $181,000 after buying an additional 2,354 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Home BancShares during the third quarter valued at approximately $201,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Home BancShares during the fourth quarter valued at approximately $205,000. Zeke Capital Advisors LLC purchased a new position in shares of Home BancShares during the first quarter valued at approximately $205,000. Finally, Meadow Creek Investment Management LLC increased its stake in shares of Home BancShares by 69.9% during the fourth quarter. Meadow Creek Investment Management LLC now owns 10,224 shares of the financial services provider’s stock valued at $238,000 after buying an additional 4,208 shares during the period. 64.75% of the stock is currently owned by institutional investors and hedge funds.
Home BancShares 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, NOW, and money market accounts, as well as certificates of deposit.