Home BancShares (NYSE:HOMB) Stock Gets Price Target Trim from Citigroup

Home BancShares (NYSE:HOMB) had its target price lowered by Citigroup from $32.00 to $31.00 in a research note published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

HOMB has been the topic of several other research reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a research note on Thursday, October 15th. Keefe, Bruyette & Woods increased their price objective on Home BancShares from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Weiss Ratings upgraded Home BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $34.00 price objective (down from $36.00) on shares of Home BancShares in a research note on Friday, October 16th. Finally, Hovde Group assumed coverage on Home BancShares in a report on Tuesday, September 8th. They set an “outperform” rating and a $34.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Home BancShares has a consensus rating of “Moderate Buy” and an average price target of $32.57.

Home BancShares Stock Down 0.2%

NYSE:HOMB opened at $29.34 on Monday. Home BancShares has a twelve month low of $25.50 and a twelve month high of $31.70. The company’s 50 day moving average is $29.48 and its two-hundred day moving average is $28.65. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.87 billion, a PE ratio of 11.80 and a beta of 0.72.

Home BancShares (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $288.44 million for the quarter, compared to analyst estimates of $294.42 million. Home BancShares had a net margin of 32.36% and a return on equity of 11.14%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. Analysts anticipate that Home BancShares will post 2.53 EPS for the current year.

Insider Activity at Home BancShares

In related news, CEO John Tipton sold 12,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total transaction of $379,080.00. Following the completion of the transaction, the chief executive officer owned 76,308 shares of the company’s stock, valued at $2,410,569.72. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in Home BancShares by 13.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,450 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 1,368 shares during the period. IFP Advisors Inc raised its stake in shares of Home BancShares by 490.4% during the 3rd quarter. IFP Advisors Inc now owns 1,293 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,074 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Home BancShares by 36.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 25,095 shares of the financial services provider’s stock valued at $706,000 after buying an additional 6,741 shares during the last quarter. ASK Capital Investment Managers LLC acquired a new position in shares of Home BancShares in the 3rd quarter valued at about $282,000. Finally, Krilogy Financial LLC acquired a new position in shares of Home BancShares in the 3rd quarter valued at about $241,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

About Home BancShares

Home BancShares, Inc is a bank holding company headquartered in Conway, Arkansas. Through its principal subsidiary, Centennial Bank, the company provides banking services to businesses, individuals and institutions, including commercial and consumer lending, residential and commercial real estate loans, deposit accounts, cash management and online banking services.

Centennial Bank serves customers through a network of financial centers and digital banking channels in markets across Arkansas, Florida, Alabama and Texas.