Home Bancshares (NASDAQ:HOMB) declared that its Board of Directors has initiated a share buyback program, which authorizes the company to repurchase 5,000,000 outstanding shares on Thursday, February 22nd, EventVestor reports. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts recently issued reports on the company. BidaskClub cut Home Bancshares from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Piper Jaffray Companies restated a “hold” rating and issued a $26.00 target price on shares of Home Bancshares in a report on Tuesday, January 9th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $30.00 target price on shares of Home Bancshares in a report on Friday, December 22nd. Zacks Investment Research upgraded Home Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, Sandler O’Neill set a $26.00 target price on Home Bancshares and gave the stock a “hold” rating in a report on Thursday, January 4th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $27.50.
Home Bancshares (NASDAQ:HOMB) opened at $24.04 on Friday. Home Bancshares has a twelve month low of $20.82 and a twelve month high of $29.69. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4,149.83, a price-to-earnings ratio of 26.42 and a beta of 1.15.
Home Bancshares (NASDAQ:HOMB) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Home Bancshares had a return on equity of 11.18% and a net margin of 21.79%. The business had revenue of $164.30 million for the quarter, compared to the consensus estimate of $165.40 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. Home Bancshares’s revenue for the quarter was up 28.4% compared to the same quarter last year. analysts expect that Home Bancshares will post 1.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, February 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.83%. Home Bancshares’s dividend payout ratio is 48.35%.
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About Home Bancshares
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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