Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) to Issue Dividend Increase – $0.20 Per Share

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) declared a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Wednesday, August 14th will be paid a dividend of 0.195 per share by the financial services provider on Wednesday, September 4th. This represents a $0.78 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, August 14th. This is a positive change from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18.

Home Bancshares, Inc. (Conway, AR) has increased its dividend payment by an average of 10.8% per year over the last three years and has increased its dividend every year for the last 14 years. Home Bancshares, Inc. (Conway, AR) has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 37.1%.

Home Bancshares, Inc. (Conway, AR) Stock Up 0.0 %

Shares of HOMB traded up $0.01 during midday trading on Tuesday, hitting $25.75. The stock had a trading volume of 17,746 shares, compared to its average volume of 1,006,656. Home Bancshares, Inc. has a twelve month low of $19.61 and a twelve month high of $28.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50 day simple moving average of $24.95 and a two-hundred day simple moving average of $24.20. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 13.27 and a beta of 1.07.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. On average, analysts anticipate that Home Bancshares, Inc. will post 2.05 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on HOMB shares. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Piper Sandler raised their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Royal Bank of Canada upped their price objective on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Finally, Stephens reissued an “overweight” rating and issued a $28.00 target price on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.25.

Insider Transactions at Home Bancshares, Inc. (Conway, AR)

In other Home Bancshares, Inc. (Conway, AR) news, CFO Brian Davis sold 15,391 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $26.89, for a total transaction of $413,863.99. Following the sale, the chief financial officer now owns 89,192 shares in the company, valued at approximately $2,398,372.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Home Bancshares, Inc. (Conway, AR) news, insider Kevin Hester sold 25,263 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $27.00, for a total value of $682,101.00. Following the completion of the sale, the insider now directly owns 114,912 shares in the company, valued at approximately $3,102,624. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian Davis sold 15,391 shares of Home Bancshares, Inc. (Conway, AR) stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $26.89, for a total transaction of $413,863.99. Following the transaction, the chief financial officer now directly owns 89,192 shares in the company, valued at $2,398,372.88. The disclosure for this sale can be found here. Company insiders own 7.66% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) Company Profile

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