Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Free Report) by 31.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 431,166 shares of the financial services provider's stock after selling 193,836 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Home Bancshares, Inc. (Conway, AR) worth $11,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOMB. Allspring Global Investments Holdings LLC raised its position in Home Bancshares, Inc. (Conway, AR) by 10.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 315,379 shares of the financial services provider's stock valued at $8,544,000 after purchasing an additional 28,761 shares during the period. LMR Partners LLP acquired a new stake in Home Bancshares, Inc. (Conway, AR) in the 3rd quarter valued at approximately $493,000. Citigroup Inc. raised its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 12.2% in the 3rd quarter. Citigroup Inc. now owns 289,079 shares of the financial services provider's stock valued at $7,831,000 after buying an additional 31,493 shares during the period. Point72 Asset Management L.P. increased its stake in 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 worth $647,000 after purchasing an additional 17,563 shares during the period. Finally, Creative Planning boosted its stake in shares of Home Bancshares, Inc. (Conway, AR) by 38.2% in the second quarter. Creative Planning now owns 601,926 shares of the financial services provider's stock valued at $14,422,000 after purchasing an additional 166,324 shares during the period. 67.31% of the stock is currently owned by institutional investors and hedge funds.

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

NYSE HOMB traded down $0.09 on Monday, reaching $28.32. The stock had a trading volume of 458,766 shares, compared to its average volume of 973,487. The stock has a market cap of $5.63 billion, a P/E ratio of 14.60 and a beta of 1.08. Home Bancshares, Inc. has a 12-month low of $22.38 and a 12-month high of $32.90. The business's 50-day moving average price is $29.64 and its 200 day moving average price is $27.40. 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) (NYSE:HOMB - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The business had revenue of $258.00 million for the quarter, compared to analyst estimates of $258.90 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Home Bancshares, Inc. will post 2.04 earnings per share for the current year.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.195 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.78 dividend on an annualized basis and a yield of 2.75%. Home Bancshares, Inc. (Conway, AR)'s payout ratio is 40.21%.

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

In other news, Director Jack Engelkes sold 25,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.12, for a total transaction of $753,000.00. Following the transaction, the director now directly owns 199,195 shares in the company, valued at $5,999,753.40. The trade was a 11.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $30.18, for a total transaction of $60,360.00. Following the transaction, the chief accounting officer now directly owns 3,468 shares of the company's stock, valued at $104,664.24. This represents a 36.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,997 shares of company stock worth $2,782,548. 7.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HOMB shares. Piper Sandler upped their target price on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. StockNews.com raised shares of Home Bancshares, Inc. (Conway, AR) from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods lifted their price target on Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Stephens increased their price target on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Home Bancshares, Inc. (Conway, AR) presently has a consensus rating of "Hold" and an average price target 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.