Principal Financial Group Inc. Sells 193,836 Shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

Principal Financial Group Inc. cut its stake in shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Free Report) by 31.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 431,166 shares of the financial services provider's stock after selling 193,836 shares during the period. Principal Financial Group Inc. owned 0.22% of Home Bancshares, Inc. (Conway, AR) worth $11,680,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HOMB. GAMMA Investing LLC increased its stake 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 during the period. Blue Trust Inc. increased its position in shares of Home Bancshares, Inc. (Conway, AR) by 41.6% in the third quarter. Blue Trust Inc. now owns 1,797 shares of the financial services provider's stock worth $49,000 after purchasing an additional 528 shares during the period. Inspire Investing LLC raised 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 purchasing an additional 529 shares in the last quarter. Bank of Montreal Can lifted its position in Home Bancshares, Inc. (Conway, AR) by 4.0% during the second quarter. Bank of Montreal Can now owns 18,239 shares of the financial services provider's stock worth $438,000 after purchasing an additional 701 shares during the period. Finally, UMB Bank n.a. grew its stake in Home Bancshares, Inc. (Conway, AR) by 186.2% during the third quarter. UMB Bank n.a. now owns 1,222 shares of the financial services provider's stock worth $33,000 after buying an additional 795 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jack Engelkes sold 25,000 shares of the business's stock in a transaction 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 transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer C. Floyd sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.18, for a total value of $60,360.00. Following the sale, 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 position. The disclosure for this sale can be found here. 7.66% of the stock is owned by insiders.

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

Shares of NYSE:HOMB traded down $0.22 during midday trading on Monday, hitting $30.62. 1,022,245 shares of the stock were exchanged, compared to its average volume of 985,540. The business's 50-day moving average price is $27.51 and its 200 day moving average price is $26.01. Home Bancshares, Inc. has a 12 month low of $21.70 and a 12 month high of $31.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 15.90 and a beta of 1.05.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB - Get Free Report) last posted its 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). The business 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 10.33% and a net margin of 26.69%. The company's revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. Analysts predict 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 will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.55%. Home Bancshares, Inc. (Conway, AR)'s dividend payout ratio (DPR) is 40.21%.

Analysts Set New Price Targets

HOMB has been the topic of several analyst reports. Piper Sandler increased 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 research report on Friday, October 18th. Stephens raised their target price on 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. StockNews.com raised Home Bancshares, Inc. (Conway, AR) from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Home Bancshares, Inc. (Conway, AR) has an average rating of "Hold" and an average price target of $28.25.

About Home Bancshares, Inc. (Conway, AR)

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.