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

Shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Get Free Report) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $29.11, but opened at $28.20. Home Bancshares, Inc. (Conway, AR) shares last traded at $28.99, with a volume of 249,042 shares.

The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). The firm had revenue of $258.40 million for the quarter, compared to analysts' expectations of $256.67 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share.

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

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.78 annualized dividend and a yield of 2.64%. Home Bancshares, Inc. (Conway, AR)'s dividend payout ratio is presently 40.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HOMB shares. StockNews.com upgraded 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 reissued a "sector perform" rating and set a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Friday, October 18th. Piper Sandler increased their price target on 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 restated an "overweight" rating and issued a $34.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday. Finally, Keefe, Bruyette & Woods increased their target price on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $31.25.

Insider Activity at Home Bancshares, Inc. (Conway, AR)

In other Home Bancshares, Inc. (Conway, AR) news, Director Jack Engelkes sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.12, for a total value of $753,000.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Pat Hickman sold 63,997 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $30.77, for a total value of $1,969,187.69. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,997 shares of company stock worth $2,782,548. 7.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. boosted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 186.2% in the 3rd quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider's stock valued at $33,000 after buying an additional 795 shares during the period. GAMMA Investing LLC grew its holdings in Home Bancshares, Inc. (Conway, AR) by 49.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,286 shares of the financial services provider's stock worth $35,000 after acquiring an additional 427 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the 4th quarter valued at approximately $40,000. Blue Trust Inc. raised its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 41.6% in the 3rd quarter. Blue Trust Inc. now owns 1,797 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 528 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) during the 2nd quarter worth $75,000. 67.31% of the stock is owned by institutional investors and hedge funds.

Home Bancshares, Inc. (Conway, AR) Trading Up 1.3 %

The firm has a market capitalization of $5.86 billion, a PE ratio of 15.20 and a beta of 1.10. The company's 50-day moving average price is $29.77 and its 200-day moving average price is $27.79. 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. (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.