Home BancShares, Inc. $HOMB Stake Increased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in Home BancShares, Inc. (NYSE:HOMB) by 247.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,439 shares of the financial services provider’s stock after buying an additional 149,100 shares during the period. Renaissance Technologies LLC’s holdings in Home BancShares were worth $5,640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its holdings 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 worth $30,000 after acquiring an additional 674 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Home BancShares by 76.9% during the first quarter. Root Financial Partners LLC now owns 1,090 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 474 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Home BancShares during the fourth quarter worth about $36,000. Covestor Ltd grew its stake in Home BancShares by 110.6% in the fourth quarter. Covestor Ltd now owns 1,327 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 697 shares in the last quarter. Finally, Binnacle Investments Inc grew its stake in Home BancShares by 76.7% in the second quarter. Binnacle Investments Inc now owns 1,329 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 577 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Home BancShares

In related news, CEO John Stephen Tipton sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 in the company, valued at $2,410,569.72. The trade was a 13.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HOMB. Piper Sandler restated an “overweight” rating and set a $36.00 price objective (up from $33.00) on shares of Home BancShares in a research note on Friday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Home BancShares in a research report on Thursday, July 16th. Weiss Ratings upgraded Home BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Benchmark started coverage on Home BancShares in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Finally, Citigroup restated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.67.

Home BancShares Price Performance

HOMB opened at $31.23 on Thursday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 12.90 and a beta of 0.69. Home BancShares, Inc. has a fifty-two week low of $25.50 and a fifty-two week high of $31.70. The company’s 50-day moving average price is $28.89 and its 200 day moving average price is $28.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18.

Home BancShares (NYSE:HOMB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $295.10 million during the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a return on equity of 11.25% and a net margin of 32.10%.Home BancShares’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts expect that Home BancShares, Inc. will post 2.51 earnings per share for the current year.

Home BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.23 dividend. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. Home BancShares’s dividend payout ratio (DPR) is 34.71%.

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.