PNC Financial Services Group Inc. Cuts Stake in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

PNC Financial Services Group Inc. cut its stake in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,471 shares of the financial services provider’s stock after selling 1,339 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $353,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in Home Bancshares, Inc. (Conway, AR) in the fourth quarter valued at about $722,000. Charles Schwab Investment Management Inc. grew its stake in shares of Home Bancshares, Inc. (Conway, AR) by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,166,844 shares of the financial services provider’s stock valued at $61,322,000 after acquiring an additional 120,691 shares in the last quarter. Citigroup Inc. grew its stake in shares of Home Bancshares, Inc. (Conway, AR) by 12.2% during the third quarter. Citigroup Inc. now owns 289,079 shares of the financial services provider’s stock valued at $7,831,000 after acquiring an additional 31,493 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Home Bancshares, Inc. (Conway, AR) by 18.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,090,463 shares of the financial services provider’s stock valued at $59,160,000 after acquiring an additional 324,664 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Home Bancshares, Inc. (Conway, AR) by 277.2% during the third quarter. Point72 Asset Management L.P. now owns 23,900 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 17,563 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

Home Bancshares, Inc. (Conway, AR) Stock Down 1.7 %

NYSE:HOMB opened at $28.12 on Friday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 13.92 and a beta of 1.08. Home Bancshares, Inc. has a one year low of $22.38 and a one year high of $32.91. The stock has a 50-day simple moving average of $29.53 and a 200 day simple moving average of $28.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.89.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). The firm had revenue of $258.40 million during the quarter, compared to analyst estimates of $256.67 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.31% and a net margin of 27.39%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. Sell-side analysts predict that Home Bancshares, Inc. will post 2.19 EPS for the current fiscal year.

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

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.78 dividend on an annualized basis and a yield of 2.77%. Home Bancshares, Inc. (Conway, AR)’s payout ratio is currently 38.61%.

Insider Buying and Selling at Home Bancshares, Inc. (Conway, AR)

In related news, CEO John W. Allison bought 10,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was bought at an average cost of $30.76 per share, for a total transaction of $307,600.00. Following the completion of the purchase, the chief executive officer now directly owns 5,693,182 shares in the company, valued at approximately $175,122,278.32. The trade was a 0.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on HOMB. Stephens restated an “overweight” rating and set a $34.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday, January 16th. Hovde Group lowered their target price on Home Bancshares, Inc. (Conway, AR) from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised their target price on Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Home Bancshares, Inc. (Conway, AR) currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Home Bancshares, Inc. (Conway, AR) 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.