Retirement Systems of Alabama Sells 4,352 Shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB)

Retirement Systems of Alabama lessened its holdings in shares of Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) by 1.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 225,587 shares of the financial services provider’s stock after selling 4,352 shares during the quarter. Retirement Systems of Alabama’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $6,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of HOMB. Dimensional Fund Advisors LP grew its stake in Home Bancshares, Inc. (Conway, AR) by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 6,550,418 shares of the financial services provider’s stock valued at $156,946,000 after acquiring an additional 490,718 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Home Bancshares, Inc. (Conway, AR) by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,465,144 shares of the financial services provider’s stock worth $120,983,000 after buying an additional 60,588 shares during the period. Copeland Capital Management LLC lifted its position in shares of Home Bancshares, Inc. (Conway, AR) by 0.9% during the third quarter. Copeland Capital Management LLC now owns 3,240,644 shares of the financial services provider’s stock worth $87,789,000 after purchasing an additional 28,604 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Home Bancshares, Inc. (Conway, AR) by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,166,894 shares of the financial services provider’s stock worth $51,919,000 after acquiring an additional 11,499 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Home Bancshares, Inc. (Conway, AR) by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,046,153 shares of the financial services provider’s stock worth $55,430,000 after purchasing an additional 134,741 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) Stock Down 4.8 %

HOMB opened at $28.35 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.44. Home Bancshares, Inc. has a twelve month low of $22.38 and a twelve month high of $32.90. The company has a market cap of $5.64 billion, a PE ratio of 14.61 and a beta of 1.08. The company has a 50-day moving average price of $29.40 and a 200 day moving average price of $27.07.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.33% and a net margin of 26.69%. The business had revenue of $258.00 million for the quarter, compared to analyst estimates of $258.90 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Home Bancshares, Inc. will post 2.04 earnings per share for the current fiscal year.

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were given a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.78 annualized dividend and a yield of 2.75%. Home Bancshares, Inc. (Conway, AR)’s payout ratio is 40.21%.

Insider Buying and Selling

In related news, CAO Jennifer C. Floyd sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.18, for a total transaction of $60,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,468 shares in the company, valued at $104,664.24. This trade represents a 36.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Pat Hickman sold 63,997 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $30.77, for a total transaction of $1,969,187.69. Following the sale, the director now owns 175,500 shares in the company, valued at $5,400,135. This trade represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,997 shares of company stock valued at $2,782,548. 7.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on HOMB shares. StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Sandler boosted their price objective on shares of Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens lifted their price objective on Home Bancshares, Inc. (Conway, AR) from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Bancshares, Inc. (Conway, AR) has an average rating of “Hold” and a consensus price target of $30.50.

About Home Bancshares, Inc. (Conway, AR)

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.