Home Bancshares (NASDAQ:HOMB) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Home Bancshares (NASDAQ:HOMB) from a hold rating to a sell rating in a report issued on Monday, 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. “

Other equities analysts have also recently issued reports about the company. Citigroup cut Home Bancshares from a buy rating to a neutral rating in a research report on Thursday, January 9th. BidaskClub cut Home Bancshares from a buy rating to a hold rating in a report on Friday, December 27th. Finally, Stephens set a $22.00 price objective on Home Bancshares and gave the stock a buy rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $21.50.

Home Bancshares stock traded up $0.92 during mid-day trading on Monday, reaching $20.09. The company’s stock had a trading volume of 28,981 shares, compared to its average volume of 647,506. Home Bancshares has a 12-month low of $16.38 and a 12-month high of $20.37. The company has a market capitalization of $3.20 billion, a P/E ratio of 11.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s fifty day moving average price is $19.34 and its two-hundred day moving average price is $18.84.

Home Bancshares (NASDAQ:HOMB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. Home Bancshares had a return on equity of 12.22% and a net margin of 35.22%. The firm had revenue of $167.47 million for the quarter, compared to the consensus estimate of $167.40 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts predict that Home Bancshares will post 1.71 EPS for the current fiscal year.

In related news, Director Alex R. Lieblong sold 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $18.85, for a total transaction of $452,400.00. Following the sale, the director now owns 587,388 shares of the company’s stock, valued at approximately $11,072,263.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alex R. Lieblong sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.81, for a total transaction of $188,100.00. Following the sale, the director now directly owns 588,813 shares in the company, valued at approximately $11,075,572.53. The disclosure for this sale can be found here. Insiders sold 130,000 shares of company stock valued at $2,435,855 over the last 90 days. 8.70% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Texas Permanent School Fund raised its position in shares of Home Bancshares by 1.1% in the third quarter. Texas Permanent School Fund now owns 106,006 shares of the financial services provider’s stock worth $1,992,000 after buying an additional 1,111 shares in the last quarter. Private Capital Group LLC purchased a new position in Home Bancshares during the second quarter worth about $26,000. Retirement Systems of Alabama grew its position in Home Bancshares by 0.7% during the third quarter. Retirement Systems of Alabama now owns 202,454 shares of the financial services provider’s stock worth $3,805,000 after buying an additional 1,414 shares in the last quarter. Lathrop Investment Management Corp grew its position in Home Bancshares by 3.3% during the third quarter. Lathrop Investment Management Corp now owns 44,915 shares of the financial services provider’s stock worth $844,000 after buying an additional 1,449 shares in the last quarter. Finally, Horan Capital Advisors LLC. bought a new position in Home Bancshares in the 3rd quarter worth about $27,000. 66.71% of the stock is owned by hedge funds and other institutional investors.

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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