Piper Sandler Boosts Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Price Target to $31.00

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) had its target price upped by equities research analysts at Piper Sandler from $30.00 to $31.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 15.20% from the company’s previous close.

A number of other research analysts have also commented on the stock. StockNews.com lowered shares of Home Bancshares, Inc. (Conway, AR) from a “hold” rating to a “sell” rating in a research report on Thursday. Stephens reiterated an “overweight” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Thursday, July 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a report on Friday. One 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.50.

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

Shares of NYSE HOMB traded down $0.07 during mid-day trading on Friday, hitting $26.91. The company had a trading volume of 90,816 shares, compared to its average volume of 963,505. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.45. Home Bancshares, Inc. has a 1 year low of $19.61 and a 1 year high of $28.99. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 13.87 and a beta of 1.05. The stock’s 50-day moving average price is $26.88 and its 200-day moving average price is $25.29.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a net margin of 27.29% and a return on equity of 10.41%. The company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $258.90 million. During the same period in the previous year, the firm earned $0.47 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Home Bancshares, Inc. will post 2.07 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Home Bancshares, Inc. (Conway, AR) by 21.5% in the 4th quarter. Wellington Management Group LLP now owns 3,340,511 shares of the financial services provider’s stock worth $84,615,000 after buying an additional 590,301 shares during the last quarter. BTC Capital Management Inc. bought a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the 1st quarter worth approximately $339,000. Kwmg LLC boosted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 2.0% in the 1st quarter. Kwmg LLC now owns 242,958 shares of the financial services provider’s stock valued at $5,969,000 after purchasing an additional 4,877 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Home Bancshares, Inc. (Conway, AR) during the 1st quarter valued at $4,738,000. Finally, State of Michigan Retirement System raised its position in Home Bancshares, Inc. (Conway, AR) by 2.2% in the 1st 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. 67.31% of the stock is currently 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.