Kennedy Capital Management LLC Has $30.73 Million Stock Position in Home BancShares, Inc. $HOMB

Kennedy Capital Management LLC lifted its stake in Home BancShares, Inc. (NYSE:HOMB) by 16.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,106,228 shares of the financial services provider’s stock after purchasing an additional 155,527 shares during the quarter. Home BancShares accounts for about 0.7% of Kennedy Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Kennedy Capital Management LLC’s holdings in Home BancShares were worth $30,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in shares of Home BancShares by 164.8% in 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 position in shares of Home BancShares in the 4th quarter valued at $36,000. Covestor Ltd boosted its position in shares of Home BancShares by 110.6% in 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 boosted its position in shares of Home BancShares by 76.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 577 shares during the period. Finally, Torren Management LLC acquired a new position in shares of Home BancShares in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen lowered Home BancShares from a “hold” rating to a “sell” rating in a research report 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 report on Friday, April 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $30.00 price target (down from $31.00) on shares of Home BancShares in a research report on Tuesday, May 19th. Keefe, Bruyette & Woods decreased their price target on Home BancShares from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. Finally, Weiss Ratings lowered Home BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Home BancShares presently has an average rating of “Hold” and a consensus target price of $31.20.

Home BancShares Stock Up 1.5%

Shares of Home BancShares stock opened at $28.26 on Friday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 11.63 and a beta of 0.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. Home BancShares, Inc. has a 52-week low of $25.50 and a 52-week high of $30.83. The stock has a 50-day simple moving average of $26.94 and a 200-day simple moving average of $27.77.

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

Home BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, May 13th. Home BancShares’s payout ratio is currently 34.57%.

Insider Activity

In other news, CAO Jennifer C. Floyd sold 3,000 shares of Home BancShares stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $27.11, for a total transaction of $81,330.00. Following the completion of the sale, the chief accounting officer directly owned 4,635 shares in the company, valued at $125,654.85. The trade was a 39.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Allison purchased 100,000 shares of Home BancShares stock in a transaction dated Friday, April 17th. The shares were purchased at an average price of $26.96 per share, with a total value of $2,696,000.00. Following the completion of the acquisition, the chief executive officer owned 5,798,926 shares in the company, valued at $156,339,044.96. The trade was a 1.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.39% of the stock is owned by insiders.

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.