Home BancShares (NYSE:HOMB) Share Price Break Above Two Hundred Day Moving Average – Time to Sell?

Shares of Home BancShares, Inc. (NYSE:HOMB) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $28.43 and traded as high as $28.95. Home BancShares shares last traded at $28.6650, with a volume of 1,764,404 shares.

Analyst Upgrades and Downgrades

HOMB has been the topic of several analyst reports. Wall Street Zen raised shares of Home BancShares from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Citigroup reaffirmed a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Home BancShares in a report on Tuesday, July 21st. Stephens upped their target price on shares of Home BancShares from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $36.00 price target (up from $33.00) on shares of Home BancShares in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Home BancShares from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Home BancShares Stock Up 0.4%

The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 11.85 and a beta of 0.72. The firm has a 50 day simple moving average of $30.11 and a 200-day simple moving average of $28.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

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 the consensus estimate of $0.62 by $0.02. The company had revenue of $295.10 million for the quarter, compared to the consensus estimate of $288.70 million. Home BancShares had a net margin of 32.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. On average, sell-side analysts forecast that Home BancShares, Inc. will post 2.51 EPS for the current fiscal year.

Home BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were paid a dividend of $0.23 per share. This is a positive change from Home BancShares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 12th. Home BancShares’s payout ratio is currently 38.02%.

Insider Buying and Selling at Home BancShares

In other news, CEO John Tipton sold 12,000 shares of Home BancShares stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.59, for a total value of $379,080.00. Following the completion of the transaction, the chief executive officer owned 76,308 shares in the company, valued at approximately $2,410,569.72. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HOMB. Bank of America Corp DE raised its holdings in shares of Home BancShares by 14.5% in the first quarter. Bank of America Corp DE now owns 886,006 shares of the financial services provider’s stock valued at $23,860,000 after buying an additional 111,888 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Home BancShares during the 2nd quarter worth about $4,628,000. Norges Bank acquired a new stake in Home BancShares in the 4th quarter valued at about $66,673,000. Wellington Management Group LLP raised its stake in shares of Home BancShares by 23.9% in the second quarter. Wellington Management Group LLP now owns 977,284 shares of the financial services provider’s stock worth $27,901,000 after acquiring an additional 188,710 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Home BancShares by 4.5% during the fourth quarter. Capital Research Global Investors now owns 5,588,267 shares of the financial services provider’s stock worth $155,242,000 after purchasing an additional 238,548 shares in the last quarter. 67.31% of the stock is 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 banking subsidiary, Centennial Bank, the company provides a range of financial services to individuals, businesses and institutions.

Centennial Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, online and mobile banking, and other traditional banking services. The bank serves customers through a network of financial centers and digital channels.

Home BancShares was established in 1998 and has expanded through a combination of organic growth and acquisitions.