Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Gap Down After Earnings Miss

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)’s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $27.45, but opened at $26.10. Home Bancshares, Inc. (Conway, AR) shares last traded at $27.24, with a volume of 57,913 shares traded.

The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The firm had revenue of $258.00 million for the quarter, compared to the consensus estimate of $258.90 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. Home Bancshares, Inc. (Conway, AR)’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th were issued a $0.195 dividend. This is a boost from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, August 14th. This represents a $0.78 annualized dividend and a dividend yield of 2.89%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio (DPR) is presently 40.21%.

Analyst Upgrades and Downgrades

HOMB has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. StockNews.com cut Home Bancshares, Inc. (Conway, AR) from a “hold” rating to a “sell” rating in a report on Thursday. Royal Bank of Canada lifted their price target on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. Finally, Stephens reiterated an “overweight” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.25.

Institutional Investors Weigh In On Home Bancshares, Inc. (Conway, AR)

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the third quarter valued at approximately $187,000. Inspire Investing LLC increased its stake in Home Bancshares, Inc. (Conway, AR) by 3.6% in the third quarter. Inspire Investing LLC now owns 15,243 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 529 shares during the last quarter. UMB Bank n.a. increased its stake in Home Bancshares, Inc. (Conway, AR) by 186.2% in the third quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 795 shares during the last quarter. GAMMA Investing LLC increased its stake in Home Bancshares, Inc. (Conway, AR) by 49.7% in the third quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 427 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Home Bancshares, Inc. (Conway, AR) in the second quarter valued at approximately $75,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Home Bancshares, Inc. (Conway, AR) Price Performance

The business’s 50 day moving average is $26.88 and its 200-day moving average is $25.29. The firm has a market capitalization of $5.40 billion, a P/E ratio of 13.91 and a beta of 1.05. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.45.

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.