Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Announces Earnings Results

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) announced its earnings results on Wednesday. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02), Briefing.com reports. The business had revenue of $258.40 million for the quarter, compared to analyst estimates of $256.67 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. Home Bancshares, Inc. (Conway, AR)’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS.

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

HOMB stock traded up $0.70 during trading on Wednesday, reaching $29.16. 1,221,802 shares of the company were exchanged, compared to its average volume of 1,047,524. Home Bancshares, Inc. has a 52-week low of $22.38 and a 52-week high of $32.90. 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 company has a market cap of $5.80 billion, a P/E ratio of 15.03 and a beta of 1.10. The stock’s 50 day moving average price is $29.80 and its 200 day moving average price is $27.76.

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

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were issued a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.67%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is presently 40.21%.

Wall Street Analyst Weigh In

HOMB has been the topic of several analyst reports. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Stephens boosted their price objective 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. 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 research note on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Piper Sandler lifted their price objective 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Home Bancshares, Inc. (Conway, AR) presently has a consensus rating of “Hold” and an average price target of $30.50.

Insider Activity

In other Home Bancshares, Inc. (Conway, AR) news, Director James Pat Hickman sold 63,997 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $30.77, for a total value of $1,969,187.69. Following the sale, the director now owns 175,500 shares of the company’s stock, valued at $5,400,135. This represents a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 approximately $104,664.24. This trade represents a 36.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 90,997 shares of company stock worth $2,782,548. Company insiders own 7.66% of the company’s stock.

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.