Keefe, Bruyette & Woods Cuts Home BancShares (NYSE:HOMB) Price Target to $30.00

Home BancShares (NYSE:HOMB) had its price objective cut by Keefe, Bruyette & Woods from $32.00 to $30.00 in a research report released on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on HOMB. Royal Bank Of Canada set a $31.00 price target on shares of Home BancShares in a report on Monday, January 12th. Stephens dropped their price target on Home BancShares from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Wall Street Zen cut Home BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Piper Sandler set a $33.00 price target on Home BancShares and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Cantor Fitzgerald lowered their price objective on Home BancShares from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.40.

Home BancShares Stock Down 0.7%

Shares of NYSE HOMB opened at $26.66 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 10.97 and a beta of 0.75. Home BancShares has a 12 month low of $25.67 and a 12 month high of $30.83. The stock has a 50-day moving average price of $27.49 and a two-hundred day moving average price of $27.90.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. The firm had revenue of $266.71 million during the quarter, compared to the consensus estimate of $274.06 million. Home BancShares had a return on equity of 11.11% and a net margin of 32.48%.The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. As a group, analysts forecast that Home BancShares will post 2.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Donna Townsell sold 5,563 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $28.38, for a total value of $157,877.94. Following the completion of the sale, the director directly owned 218,460 shares in the company, valued at $6,199,894.80. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer C. Floyd sold 3,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $27.11, for a total value of $81,330.00. Following the completion of the sale, the chief accounting officer owned 4,635 shares of the company’s stock, valued at $125,654.85. The trade was a 39.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,563 shares of company stock valued at $380,158. Company insiders own 6.39% of the company’s stock.

Institutional Trading of Home BancShares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its position in Home BancShares by 164.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,083 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 674 shares during the period. Kestra Advisory Services LLC acquired a new stake in Home BancShares during the 4th quarter valued at approximately $36,000. Covestor Ltd increased its position in Home BancShares by 110.6% during the 4th quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 697 shares during the period. Binnacle Investments Inc grew its holdings in Home BancShares by 76.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 577 shares during the period. Finally, First Horizon Corp acquired a new stake in Home BancShares during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Home BancShares Company Profile

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.