Principal Financial Group Inc. Decreases Stake in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

Principal Financial Group Inc. trimmed its position in shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 31.0% during the third quarter, Holdings Channel reports. The institutional investor owned 431,166 shares of the financial services provider’s stock after selling 193,836 shares during the quarter. Principal Financial Group Inc.’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $11,680,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in Home Bancshares, Inc. (Conway, AR) during the 1st quarter worth approximately $31,000. UMB Bank n.a. lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 186.2% during the 3rd quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 795 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Home Bancshares, Inc. (Conway, AR) by 49.7% during the third quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 427 shares in the last quarter. Blue Trust Inc. increased its holdings in Home Bancshares, Inc. (Conway, AR) by 41.6% in the third quarter. Blue Trust Inc. now owns 1,797 shares of the financial services provider’s stock valued at $49,000 after buying an additional 528 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Home Bancshares, Inc. (Conway, AR) in the second quarter valued at $75,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HOMB shares. Piper Sandler upped their price objective on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Stephens upped their price target on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.25.

Home Bancshares, Inc. (Conway, AR) Stock Up 0.7 %

Home Bancshares, Inc. (Conway, AR) stock opened at $30.84 on Monday. The stock has a 50-day simple moving average of $27.51 and a 200-day simple moving average of $26.00. The company has a market capitalization of $6.13 billion, a P/E ratio of 15.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.91 and a current ratio of 0.91. Home Bancshares, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $31.33.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The firm had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $258.90 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 26.69% and a return on equity of 10.33%. Home Bancshares, Inc. (Conway, AR)’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. Equities research analysts expect that Home Bancshares, Inc. will post 2.04 earnings per share for the current year.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, November 13th. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is currently 40.21%.

Insiders Place Their Bets

In other Home Bancshares, Inc. (Conway, AR) news, CAO Jennifer C. Floyd sold 2,000 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.18, for a total value of $60,360.00. Following the transaction, the chief accounting officer now directly owns 3,468 shares in the company, valued at approximately $104,664.24. This trade represents a 36.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jack Engelkes sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total value of $753,000.00. Following the sale, the director now owns 199,195 shares of the company’s stock, valued at $5,999,753.40. This trade represents a 11.15 % decrease in their position. The disclosure for this sale can be found here. 7.66% of the stock is currently owned by insiders.

About Home Bancshares, Inc. (Conway, AR)

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.