Zacks Investment Research Upgrades Home Bancshares (NASDAQ:HOMB) to Hold

Home Bancshares (NASDAQ:HOMB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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. “

A number of other research firms also recently weighed in on HOMB. Piper Jaffray Companies set a $29.00 price target on shares of OptiNose and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Stephens set a $22.00 price target on shares of Home Bancshares and gave the stock a “buy” rating in a research note on Monday, April 22nd. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.60.

NASDAQ:HOMB opened at $19.57 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $3.25 billion, a P/E ratio of 11.18 and a beta of 1.19. Home Bancshares has a fifty-two week low of $15.35 and a fifty-two week high of $24.56. The stock’s 50 day moving average is $18.74.

Home Bancshares (NASDAQ:HOMB) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. The company had revenue of $163.14 million for the quarter, compared to the consensus estimate of $163.93 million. Home Bancshares had a net margin of 37.12% and a return on equity of 12.95%. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, research analysts anticipate that Home Bancshares will post 1.75 earnings per share for the current year.

In other news, insider Russell Davis Carter III sold 3,333 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $18.20, for a total value of $60,660.60. Following the transaction, the insider now owns 16,259 shares of the company’s stock, valued at approximately $295,913.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Kwmg LLC boosted its holdings in shares of Home Bancshares by 4.8% in the 2nd quarter. Kwmg LLC now owns 132,512 shares of the financial services provider’s stock valued at $2,552,000 after buying an additional 6,034 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of Home Bancshares by 13.7% in the 2nd quarter. Naples Global Advisors LLC now owns 19,060 shares of the financial services provider’s stock valued at $367,000 after buying an additional 2,300 shares during the period. First Trust Advisors LP boosted its holdings in shares of Home Bancshares by 19.6% in the 1st quarter. First Trust Advisors LP now owns 265,652 shares of the financial services provider’s stock valued at $4,668,000 after buying an additional 43,499 shares during the period. Advisory Alpha LLC acquired a new position in shares of Home Bancshares in the 1st quarter valued at about $46,000. Finally, Davis Capital Partners LLC boosted its holdings in shares of Home Bancshares by 7.7% in the 1st quarter. Davis Capital Partners LLC now owns 700,000 shares of the financial services provider’s stock valued at $12,299,000 after buying an additional 50,000 shares during the period. 65.79% of the stock is currently owned by institutional investors and hedge funds.

About Home Bancshares

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, NOW, demand, and money market accounts, as well as certificates of deposit.

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