Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Price Target Raised to $31.00 at Stephens

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) had its price target increased by Stephens from $30.00 to $31.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts have also commented on the company. StockNews.com lowered Home Bancshares, Inc. (Conway, AR) from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Friday. Finally, Piper Sandler increased their price target on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.25.

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

Shares of NYSE HOMB opened at $26.50 on Friday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 13.66 and a beta of 1.05. Home Bancshares, Inc. has a 52 week low of $19.61 and a 52 week high of $28.99. The firm has a 50-day simple moving average of $26.91 and a 200-day simple moving average of $25.35. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.45.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released 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 return on equity of 10.41% and a net margin of 27.29%. The business had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $258.90 million. During the same period last year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Home Bancshares, Inc. will post 2.07 earnings per share for the current fiscal year.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th were issued a $0.195 dividend. This is a positive change from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Wednesday, August 14th. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 40.21%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Amarillo National Bank lifted its holdings in shares of 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 worth $2,498,000 after acquiring an additional 50,000 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the 1st quarter valued at $543,000. Allspring Global Investments Holdings LLC purchased a new position in Home Bancshares, Inc. (Conway, AR) during the 1st quarter valued at about $4,738,000. Harbor Capital Advisors Inc. grew its position in Home Bancshares, Inc. (Conway, AR) by 292.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 32,274 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 24,052 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Home Bancshares, Inc. (Conway, AR) by 72.9% during the first quarter. BNP Paribas Financial Markets now owns 99,304 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 41,872 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

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.