Pier Capital LLC raised its position in shares of Home Bancshares Inc (NASDAQ:HOMB) by 9.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 295,723 shares of the financial services provider’s stock after buying an additional 26,411 shares during the period. Home Bancshares accounts for about 1.2% of Pier Capital LLC’s investment portfolio, making the stock its 19th biggest holding. Pier Capital LLC’s holdings in Home Bancshares were worth $6,876,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in shares of Home Bancshares by 144.7% during the third quarter. Sei Investments Co. now owns 7,039 shares of the financial services provider’s stock valued at $177,000 after buying an additional 4,163 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Home Bancshares by 43.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock valued at $181,000 after buying an additional 2,354 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Home Bancshares during the third quarter valued at about $201,000. Meadow Creek Investment Management LLC lifted its position in shares of Home Bancshares by 69.9% during the fourth quarter. Meadow Creek Investment Management LLC now owns 10,224 shares of the financial services provider’s stock valued at $238,000 after buying an additional 4,208 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Home Bancshares by 71.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,301 shares of the financial services provider’s stock valued at $260,000 after buying an additional 4,283 shares during the last quarter. 64.94% of the stock is owned by institutional investors and hedge funds.
In other Home Bancshares news, Director Richard H. Ashley sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $25.01, for a total transaction of $7,503,000.00. Following the completion of the transaction, the director now directly owns 145,354 shares of the company’s stock, valued at approximately $3,635,303.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.15% of the company’s stock.
Home Bancshares stock opened at $24.52 on Monday. The company has a market cap of $4,261.21, a P/E ratio of 18.16 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.03 and a quick ratio of 1.03. Home Bancshares Inc has a 1 year low of $20.82 and a 1 year high of $28.47.
Home Bancshares (NASDAQ:HOMB) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $164.30 million during the quarter, compared to analyst estimates of $165.40 million. Home Bancshares had a net margin of 21.79% and a return on equity of 11.18%. Home Bancshares’s revenue was up 28.4% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. research analysts anticipate that Home Bancshares Inc will post 1.75 earnings per share for the current fiscal year.
Home Bancshares declared that its board has initiated a share repurchase program on Thursday, February 22nd that allows the company to buyback 5,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, February 13th. Home Bancshares’s dividend payout ratio is presently 48.35%.
HOMB has been the subject of several research analyst reports. BidaskClub raised shares of Home Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Sandler O’Neill set a $26.00 price objective on shares of Home Bancshares and gave the company a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Home Bancshares from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Home Bancshares in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies raised shares of Home Bancshares from a “neutral” rating to an “overweight” rating and set a $28.00 price objective for the company in a research report on Thursday, March 1st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $27.79.
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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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