BNP Paribas Arbitrage SA cut its stake in Home Bancshares Inc (NASDAQ:HOMB) by 61.5% during the first quarter, HoldingsChannel.com reports. The fund owned 51,186 shares of the financial services provider’s stock after selling 81,923 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Home Bancshares were worth $1,168,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Citigroup Inc. grew its stake in Home Bancshares by 41.6% during the 1st quarter. Citigroup Inc. now owns 32,477 shares of the financial services provider’s stock worth $741,000 after buying an additional 9,536 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Home Bancshares by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,809,059 shares of the financial services provider’s stock worth $86,885,000 after buying an additional 28,473 shares during the last quarter. California Public Employees Retirement System grew its stake in Home Bancshares by 8.6% during the 1st quarter. California Public Employees Retirement System now owns 308,122 shares of the financial services provider’s stock worth $7,028,000 after buying an additional 24,435 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Home Bancshares by 3.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 95,274 shares of the financial services provider’s stock worth $2,174,000 after buying an additional 3,098 shares during the last quarter. Finally, LaSalle Street Capital Management LLC purchased a new position in Home Bancshares during the 1st quarter worth $500,000. Institutional investors and hedge funds own 64.55% of the company’s stock.
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Several research analysts recently weighed in on the company. Zacks Investment Research downgraded Home Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. BidaskClub downgraded Home Bancshares from a “sell” rating to a “strong sell” rating in a research note on Friday. Piper Jaffray Companies upgraded Home Bancshares from a “neutral” rating to an “overweight” rating and set a $28.00 target price on the stock in a research note on Thursday, March 1st. Sandler O’Neill upgraded Home Bancshares from a “hold” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $26.00 in a research note on Friday, April 20th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $28.00 target price on shares of Home Bancshares in a research note on Friday, April 20th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.33.
Home Bancshares opened at $22.71 on Friday, Marketbeat.com reports. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 16.82 and a beta of 1.08. Home Bancshares Inc has a fifty-two week low of $20.82 and a fifty-two week high of $26.08.
Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $186.70 million for the quarter, compared to the consensus estimate of $164.30 million. Home Bancshares had a return on equity of 11.35% and a net margin of 24.23%. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. research analysts forecast that Home Bancshares Inc will post 1.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 6th. Shareholders of record on Wednesday, May 16th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, May 15th. This represents a $0.44 annualized dividend and a yield of 1.94%. Home Bancshares’s payout ratio is presently 32.59%.
Home Bancshares declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 22nd that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, Chairman John W. Allison acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, April 19th. The stock was acquired at an average price of $21.32 per share, with a total value of $426,400.00. Following the acquisition, the chairman now directly owns 5,160,629 shares in the company, valued at approximately $110,024,610.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Russell Davis Carter III sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $23.67, for a total value of $82,845.00. Following the completion of the transaction, the insider now directly owns 16,259 shares of the company’s stock, valued at approximately $384,850.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,500 shares of company stock worth $1,267,604. Company insiders own 9.15% of the company’s stock.
Home Bancshares 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, NOW, and money market accounts, as well as certificates of deposit.
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