Home Bancshares (NASDAQ:HOMB) Downgraded by Zacks Investment Research

Home Bancshares (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Saturday, Zacks.com reports.

According to Zacks, “HOME BANCSHARES, INC. is a bank holding company, headquartered in Conway, Arkansas, with six wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in the central Arkansas market area, a fourth serves central and southern Arkansas, a fifth serves Stone County in north central Arkansas, and a sixth serves the Florida Keys and southwestern Florida. “

HOMB has been the topic of several other reports. Piper Jaffray Companies set a $22.00 price objective on shares of Home Bancshares and gave the company a “buy” rating in a report on Friday, July 19th. TheStreet raised Home Bancshares from a “c+” rating to a “b-” rating in a report on Friday, July 26th. Stephens set a $22.00 price target on Home Bancshares and gave the stock a “buy” rating in a research note on Friday, October 18th. BidaskClub upgraded Home Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Citigroup cut their price objective on Home Bancshares from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Home Bancshares presently has an average rating of “Hold” and a consensus target price of $21.50.

Home Bancshares stock traded down $0.15 during trading on Friday, reaching $18.74. The company had a trading volume of 308,138 shares, compared to its average volume of 690,678. The firm’s 50-day simple moving average is $18.70 and its 200 day simple moving average is $18.67. Home Bancshares has a 1-year low of $15.35 and a 1-year high of $20.37. The firm has a market capitalization of $3.20 billion, a PE ratio of 10.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 0.98.

Home Bancshares (NASDAQ:HOMB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. Home Bancshares had a net margin of 35.22% and a return on equity of 12.22%. The company had revenue of $167.47 million for the quarter, compared to analysts’ expectations of $167.40 million. During the same quarter in the previous year, the company posted $0.46 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts anticipate that Home Bancshares will post 1.72 EPS for the current year.

In related news, Director Alex R. Lieblong sold 15,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $19.02, for a total transaction of $285,300.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Russell Davis Carter III sold 7,500 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $18.29, for a total value of $137,175.00. Following the sale, the insider now directly owns 8,759 shares in the company, valued at approximately $160,202.11. The disclosure for this sale can be found here. Insiders sold 78,000 shares of company stock worth $1,466,280 in the last 90 days. Corporate insiders own 8.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Home Bancshares by 0.3% during the second quarter. BlackRock Inc. now owns 20,080,678 shares of the financial services provider’s stock worth $386,754,000 after purchasing an additional 59,522 shares during the period. Northern Trust Corp raised its position in Home Bancshares by 46.0% during the second quarter. Northern Trust Corp now owns 3,581,175 shares of the financial services provider’s stock valued at $68,973,000 after purchasing an additional 1,128,511 shares in the last quarter. Barr E S & Co. raised its position in Home Bancshares by 22.1% during the second quarter. Barr E S & Co. now owns 2,426,357 shares of the financial services provider’s stock valued at $46,732,000 after purchasing an additional 439,844 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Home Bancshares by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,977,844 shares of the financial services provider’s stock worth $38,093,000 after buying an additional 8,644 shares during the last quarter. Finally, Copeland Capital Management LLC grew its stake in shares of Home Bancshares by 7.2% in the third quarter. Copeland Capital Management LLC now owns 1,633,419 shares of the financial services provider’s stock worth $30,700,000 after purchasing an additional 109,636 shares during the last quarter. Institutional investors own 65.94% of the company’s stock.

About Home Bancshares

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, demand, and money market accounts, as well as certificates of deposit.

See Also: Retained Earnings

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