Home BancShares (HOMB) Upgraded to “Buy” at Zacks Investment Research

Home BancShares (NASDAQ:HOMB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $26.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.68% from the stock’s previous close.

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 analysts also recently commented on the stock. Sandler O’Neill downgraded shares of Home BancShares from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Friday, October 20th. Royal Bank of Canada reissued a “hold” rating and set a $28.00 price objective on shares of Home BancShares in a report on Friday, October 20th. Stephens reissued 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. Piper Jaffray Companies set a $25.00 price objective on shares of Home BancShares and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, BidaskClub downgraded shares of Home BancShares from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Home BancShares has an average rating of “Hold” and an average price target of $27.50.

Home BancShares (HOMB) opened at $23.28 on Tuesday. The firm has a market cap of $4,082.36, a price-to-earnings ratio of 20.60 and a beta of 1.17. 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 1-year low of $20.82 and a 1-year high of $29.69.

Home BancShares (NASDAQ:HOMB) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $128.23 million during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.33 EPS. analysts expect that Home BancShares will post 1.36 earnings per share for the current fiscal year.

In related news, Director Jim Rankin bought 1,500 shares of the company’s stock in a transaction on 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 purchase was disclosed in a filing with the SEC, which is available through this link. 11.27% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in HOMB. First Bank & Trust purchased a new position in shares of Home BancShares in the third quarter worth $117,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 purchasing an additional 379 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of 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 purchasing an additional 554 shares during the last quarter. Sei Investments Co. raised its holdings 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 worth $177,000 after purchasing an additional 4,163 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Home BancShares during the third quarter worth $201,000. Institutional investors own 63.45% 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).

Analyst Recommendations for Home BancShares (NASDAQ:HOMB)

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