Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Price Target Raised to $28.00

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) had its price target hoisted by equities researchers at Stephens from $27.00 to $28.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price points to a potential upside of 18.04% from the stock’s previous close.

A number of other equities analysts have also weighed in on HOMB. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Tuesday, April 9th. Piper Sandler upped their target price on shares of Home Bancshares, Inc. (Conway, AR) from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Home Bancshares, Inc. (Conway, AR) Trading Up 2.2 %

Shares of HOMB traded up $0.50 during trading hours on Friday, reaching $23.72. The stock had a trading volume of 156,984 shares, compared to its average volume of 979,736. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. Home Bancshares, Inc. has a 52 week low of $19.61 and a 52 week high of $25.80. The firm has a 50-day moving average of $23.56 and a 200 day moving average of $23.11. The company has a market cap of $4.77 billion, a P/E ratio of 12.13 and a beta of 1.11.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Home Bancshares, Inc. (Conway, AR) had a net margin of 29.21% and a return on equity of 10.91%. The business had revenue of $246.40 million during the quarter, compared to analysts’ expectations of $240.46 million. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that Home Bancshares, Inc. will post 1.88 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John W. Allison acquired 20,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were bought at an average cost of $22.74 per share, with a total value of $454,800.00. Following the completion of the transaction, the chief executive officer now directly owns 5,509,982 shares of the company’s stock, valued at $125,296,990.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Home Bancshares, Inc. (Conway, AR) news, Director Donna Townsell sold 22,729 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $23.76, for a total transaction of $540,041.04. Following the sale, the director now directly owns 215,854 shares in the company, valued at $5,128,691.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Allison acquired 20,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction on Monday, February 5th. The shares were purchased at an average price of $22.74 per share, for a total transaction of $454,800.00. Following the completion of the purchase, the chief executive officer now directly owns 5,509,982 shares of the company’s stock, valued at $125,296,990.68. The disclosure for this purchase can be found here. Insiders own 7.66% of the company’s stock.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Home Bancshares, Inc. (Conway, AR) in the 4th quarter valued at approximately $54,498,000. International Assets Investment Management LLC raised its holdings in Home Bancshares, Inc. (Conway, AR) by 2,433.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,216,752 shares of the financial services provider’s stock worth $30,820,000 after purchasing an additional 1,168,716 shares during the last quarter. State Street Corp grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 15.3% during the 2nd quarter. State Street Corp now owns 8,272,790 shares of the financial services provider’s stock worth $171,826,000 after buying an additional 1,100,758 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the 3rd quarter worth approximately $18,429,000. Finally, Wellington Management Group LLP grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 21.5% during 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 period. 67.31% of the stock is currently owned by institutional investors and hedge funds.

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.