Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02), Briefing.com reports. Home Bancshares, Inc. (Conway, AR) had a net margin of 26.69% and a return on equity of 10.33%. The firm had revenue of $258.40 million for the quarter, compared to analyst estimates of $256.67 million. During the same period in the previous year, the firm posted $0.43 EPS. The company's revenue was up 5.2% compared to the same quarter last year.

Home Bancshares, Inc. (Conway, AR) Stock Up 2.5 %

NYSE HOMB traded up $0.70 during trading hours on Wednesday, hitting $29.16. 1,221,802 shares of the company were exchanged, compared to its average volume of 1,047,524. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.44. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 15.03 and a beta of 1.10. The company has a 50 day moving average of $29.80 and a two-hundred day moving average of $27.76. Home Bancshares, Inc. has a 52-week low of $22.38 and a 52-week high of $32.90.

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

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.78 dividend on an annualized basis and a yield of 2.67%. Home Bancshares, Inc. (Conway, AR)'s dividend payout ratio (DPR) is presently 40.21%.

Insider Buying and Selling

In other news, Director Jack Engelkes sold 25,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.12, for a total transaction of $753,000.00. Following the sale, the director now owns 199,195 shares of the company's stock, valued at approximately $5,999,753.40. This trade represents a 11.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Pat Hickman sold 63,997 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $30.77, for a total value of $1,969,187.69. Following the completion of the transaction, the director now directly owns 175,500 shares of the company's stock, valued at $5,400,135. This trade represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,997 shares of company stock worth $2,782,548. Company insiders own 7.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HOMB shares. Keefe, Bruyette & Woods lifted 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 report on Wednesday, December 4th. Piper Sandler upped their target price on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. 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. Royal Bank of Canada restated a "sector perform" rating and issued a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a report on Friday, October 18th. Finally, Stephens lifted their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $30.50.

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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