Zacks Investment Research Upgrades Home BancShares (NASDAQ:HOMB) to Buy

Zacks Investment Research upgraded shares of Home BancShares (NASDAQ:HOMB) from a hold rating to a buy rating in a report published on Tuesday, December 26th. Zacks Investment Research currently has $26.00 target price on the financial services provider’s stock.

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. “

Several other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Home BancShares from a sell rating to a hold rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods restated a buy rating and issued a $30.00 price target on shares of Home BancShares in a research note on Friday, December 22nd. Piper Jaffray Companies reaffirmed a neutral rating and set a $27.00 price objective on shares of Home BancShares in a research report on Thursday, October 5th. Stephens reaffirmed an overweight rating and set a $28.00 price objective (down from $29.00) on shares of Home BancShares in a research report on Tuesday, September 12th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $28.00 price objective on shares of Home BancShares in a research report on Friday, October 20th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Home BancShares presently has an average rating of Hold and an average target price of $27.50.

Home BancShares (NASDAQ:HOMB) opened at $25.01 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Home BancShares has a 12 month low of $20.82 and a 12 month high of $29.69. The firm has a market cap of $4,340.00, a P/E ratio of 22.33 and a beta of 1.18.

Home BancShares (NASDAQ:HOMB) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The business had revenue of $128.23 million during the quarter, compared to analysts’ expectations of $135.55 million. Home BancShares had a return on equity of 12.00% and a net margin of 28.19%. During the same period last year, the business earned $0.33 earnings per share. sell-side analysts predict that Home BancShares will post 1.36 earnings per share for the current fiscal year.

In other news, Director Jim Rankin purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $21.29 per share, for a total transaction of $31,935.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.27% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. First Bank & Trust acquired a new position in Home BancShares during the third quarter worth about $117,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Home BancShares by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,812 shares of the financial services provider’s stock worth $120,000 after buying an additional 379 shares during the period. Advisor Group Inc. grew its position in Home BancShares by 11.7% during the second quarter. Advisor Group Inc. now owns 5,288 shares of the financial services provider’s stock worth $132,000 after buying an additional 554 shares during the period. Sei Investments Co. grew its position in Home BancShares by 144.7% during the third quarter. Sei Investments Co. now owns 7,039 shares of the financial services provider’s stock worth $177,000 after buying an additional 4,163 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Home BancShares in the third quarter valued at about $201,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

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Home BancShares Company Profile

Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).

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