Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Announces $0.20 Quarterly Dividend

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Get Free Report) announced a quarterly dividend on Wednesday, January 22nd,Wall Street Journal reports. Shareholders of record on Wednesday, February 12th will be paid a dividend of 0.195 per share by the financial services provider on Wednesday, March 5th. This represents a $0.78 annualized dividend and a yield of 2.61%. The ex-dividend date is Wednesday, February 12th.

Home Bancshares, Inc. (Conway, AR) has increased its dividend payment by an average of 10.2% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Home Bancshares, Inc. (Conway, AR) has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 34.8%.

Home Bancshares, Inc. (Conway, AR) Trading Down 0.7 %

Shares of NYSE HOMB traded down $0.21 during mid-day trading on Wednesday, hitting $29.88. 1,905,481 shares of the company traded hands, compared to its average volume of 1,292,475. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. Home Bancshares, Inc. has a 1 year low of $22.38 and a 1 year high of $32.90. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 14.79 and a beta of 1.10. The business has a 50 day moving average of $29.77 and a two-hundred day moving average of $27.94.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). The firm had revenue of $258.40 million during the quarter, compared to analysts' expectations 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 business's revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. On average, sell-side analysts anticipate that Home Bancshares, Inc. will post 2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James Pat Hickman sold 63,997 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $30.77, for a total transaction of $1,969,187.69. Following the completion of the transaction, the director now directly owns 175,500 shares in the company, valued at $5,400,135. This represents a 26.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer C. Floyd sold 2,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.18, for a total transaction of $60,360.00. Following the completion of the sale, the chief accounting officer now owns 3,468 shares of the company's stock, valued at approximately $104,664.24. The trade was a 36.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,997 shares of company stock valued at $2,782,548 over the last 90 days. 7.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HOMB. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Hovde Group dropped their target price on Home Bancshares, Inc. (Conway, AR) from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Piper Sandler raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Stephens reaffirmed an "overweight" rating and set a $34.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Thursday, January 16th. 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Home Bancshares, Inc. (Conway, AR) presently has an average rating of "Moderate Buy" and an average target price of $32.00.

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.

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