State of Michigan Retirement System Cuts Stock Position in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

State of Michigan Retirement System decreased its holdings in shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 2.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 44,830 shares of the financial services provider’s stock after selling 1,200 shares during the period. State of Michigan Retirement System’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $1,074,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its position in Home Bancshares, Inc. (Conway, AR) by 189.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,034 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 677 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the first quarter valued at about $31,000. Headlands Technologies LLC purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the fourth quarter worth about $35,000. TFO Wealth Partners LLC raised its position in shares of Home Bancshares, Inc. (Conway, AR) by 14,809.1% during the 4th quarter. TFO Wealth Partners LLC now owns 1,640 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,629 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in Home Bancshares, Inc. (Conway, AR) by 325.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,712 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) Trading Down 0.1 %

HOMB opened at $27.65 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50 day simple moving average is $25.96 and its two-hundred day simple moving average is $24.49. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 14.25 and a beta of 1.07. Home Bancshares, Inc. has a 1-year low of $19.61 and a 1-year high of $28.99.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $254.60 million for the quarter, compared to the consensus estimate of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. Analysts expect that Home Bancshares, Inc. will post 2.05 EPS for the current fiscal year.

Home Bancshares, Inc. (Conway, AR) Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.195 per share. This is a boost from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, August 14th. This represents a $0.78 annualized dividend and a dividend yield of 2.82%. Home Bancshares, Inc. (Conway, AR)’s payout ratio is presently 40.21%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler boosted their price objective on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Stephens reiterated an “overweight” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Thursday, July 18th. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their target price on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.25.

Insider Activity at Home Bancshares, Inc. (Conway, AR)

In other Home Bancshares, Inc. (Conway, AR) news, CFO Brian Davis sold 15,391 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $26.89, for a total transaction of $413,863.99. Following the transaction, the chief financial officer now directly owns 89,192 shares of the company’s stock, valued at $2,398,372.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brian Davis sold 15,391 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $26.89, for a total value of $413,863.99. Following the completion of the transaction, the chief financial officer now directly owns 89,192 shares in the company, valued at $2,398,372.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Hester sold 25,263 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction on Friday, July 19th. The shares were sold at an average price of $27.00, for a total value of $682,101.00. Following the completion of the sale, the insider now owns 114,912 shares in the company, valued at approximately $3,102,624. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by insiders.

Home Bancshares, Inc. (Conway, AR) 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.