Los Angeles Capital Management LLC Acquires 18,843 Shares of Home BancShares, Inc. $HOMB

Los Angeles Capital Management LLC raised its holdings in shares of Home BancShares, Inc. (NYSE:HOMB) by 43.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 61,927 shares of the financial services provider’s stock after purchasing an additional 18,843 shares during the period. Los Angeles Capital Management LLC’s holdings in Home BancShares were worth $1,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Savant Capital LLC bought a new position in shares of Home BancShares during the second quarter valued at approximately $283,000. Bank of New York Mellon Corp lifted its holdings in Home BancShares by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,769,612 shares of the financial services provider’s stock worth $50,363,000 after buying an additional 25,578 shares during the period. Hantz Financial Services Inc. lifted its holdings in Home BancShares by 4,480.3% during the second quarter. Hantz Financial Services Inc. now owns 2,794 shares of the financial services provider’s stock worth $80,000 after buying an additional 2,733 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Home BancShares during the 2nd quarter valued at $373,000. Finally, MQS Management LLC purchased a new position in shares of Home BancShares in the 2nd quarter valued at $473,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home BancShares Stock Performance

Shares of Home BancShares stock opened at $27.57 on Wednesday. The company has a 50 day moving average price of $28.09 and a 200 day moving average price of $28.47. The firm has a market capitalization of $5.42 billion, a P/E ratio of 11.88 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. Home BancShares, Inc. has a 52 week low of $24.22 and a 52 week high of $32.90.

Home BancShares (NYSE:HOMB) last released its earnings results on Wednesday, October 15th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $277.67 million for the quarter, compared to the consensus estimate of $269.96 million. Home BancShares had a net margin of 31.20% and a return on equity of 10.94%. Home BancShares’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. Sell-side analysts expect that Home BancShares, Inc. will post 2.19 EPS for the current year.

Home BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Home BancShares’s previous quarterly dividend of $0.20. Home BancShares’s payout ratio is currently 36.21%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HOMB shares. Weiss Ratings restated a “buy (b)” rating on shares of Home BancShares in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Home BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, November 2nd. Cantor Fitzgerald assumed coverage on shares of Home BancShares in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. Finally, Piper Sandler set a $34.00 target price on shares of Home BancShares and gave the company an “overweight” rating in a research note on Friday, October 17th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

Insider Transactions at Home BancShares

In related news, CEO John W. Allison sold 110,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $30.02, for a total value of $3,302,200.00. Following the completion of the transaction, the chief executive officer owned 5,540,776 shares in the company, valued at $166,334,095.52. This trade represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is owned by company insiders.

Home BancShares 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.