Home BancShares (HOMB) Upgraded to Hold at Zacks Investment Research

Home BancShares (NASDAQ:HOMB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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 research firms have also commented on HOMB. Piper Jaffray Companies reissued a “neutral” rating and set a $27.00 price target on shares of Home BancShares in a research report on Thursday, October 5th. Sandler O’Neill downgraded shares of Home BancShares from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a report on Friday, October 20th. Royal Bank Of Canada restated a “hold” rating and set a $28.00 price objective on shares of Home BancShares in a report on Friday, October 20th. ValuEngine downgraded shares of Home BancShares from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Stephens restated an “overweight” rating and set a $28.00 price objective (down previously from $29.00) on shares of Home BancShares in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $27.79.

Home BancShares (NASDAQ HOMB) traded down $0.60 during trading hours on Tuesday, reaching $23.48. 1,377,410 shares of the company were exchanged, compared to its average volume of 878,970. The stock has a market capitalization of $4,125.77, a price-to-earnings ratio of 17.60 and a beta of 1.17. Home BancShares has a 52 week low of $20.82 and a 52 week high of $29.69. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64.

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

In other news, Director Jim Rankin acquired 1,337 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $21.45 per share, with a total value of $28,678.65. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 11.27% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its position in shares of Home BancShares by 15.8% during the 3rd quarter. Sterling Capital Management LLC now owns 78,148 shares of the financial services provider’s stock valued at $1,971,000 after buying an additional 10,659 shares in the last quarter. Wolverine Trading LLC purchased a new position in shares of Home BancShares during the 3rd quarter valued at approximately $276,000. California Public Employees Retirement System lifted its position in shares of Home BancShares by 49.7% during the 3rd quarter. California Public Employees Retirement System now owns 302,380 shares of the financial services provider’s stock valued at $7,626,000 after buying an additional 100,380 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Home BancShares by 71.2% during the 3rd 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 in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Home BancShares during the 3rd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

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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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