Home BancShares (NYSE:HOMB) Upgraded by Wall Street Zen to “Hold” Rating

Home BancShares (NYSE:HOMB) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on HOMB. Weiss Ratings restated a “buy (b-)” rating on shares of Home BancShares in a research note on Monday, December 29th. Piper Sandler reissued an “overweight” rating and issued a $35.00 target price (up from $34.00) on shares of Home BancShares in a research report on Friday. Finally, Royal Bank Of Canada set a $31.00 target price on Home BancShares in a research note on Monday. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.60.

Home BancShares Trading Up 0.2%

Shares of Home BancShares stock opened at $28.93 on Friday. The firm has a market cap of $5.69 billion, a PE ratio of 12.00 and a beta of 0.78. Home BancShares has a 1 year low of $24.22 and a 1 year high of $31.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.91 and a quick ratio of 0.90. The stock has a fifty day moving average price of $28.12 and a 200-day moving average price of $28.40.

Home BancShares (NYSE:HOMB) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. Home BancShares had a net margin of 32.18% and a return on equity of 11.16%. The company had revenue of $282.09 million during the quarter, compared to analyst estimates of $272.48 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts anticipate that Home BancShares will post 2.19 EPS for the current year.

Institutional Trading of Home BancShares

A number of institutional investors have recently added to or reduced their stakes in HOMB. Norges Bank bought a new stake in shares of Home BancShares during the second quarter valued at about $64,545,000. First Trust Advisors LP grew its stake in Home BancShares by 52.5% during the third quarter. First Trust Advisors LP now owns 2,230,065 shares of the financial services provider’s stock valued at $63,111,000 after acquiring an additional 767,844 shares in the last quarter. American Century Companies Inc. increased its holdings in Home BancShares by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider’s stock worth $138,772,000 after acquiring an additional 626,655 shares during the period. AQR Capital Management LLC lifted its stake in Home BancShares by 82.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,120,706 shares of the financial services provider’s stock worth $31,716,000 after purchasing an additional 508,127 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Home BancShares in the 2nd quarter worth approximately $12,931,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

About Home BancShares

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.