Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Declares $0.20 Quarterly Dividend

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) declared a quarterly dividend on Wednesday, January 22nd,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be paid a dividend of 0.195 per share by the financial services provider on Wednesday, March 5th. This represents a $0.78 annualized dividend and a yield of 2.61%. The ex-dividend date is Wednesday, February 12th.

Home Bancshares, Inc. (Conway, AR) has increased its dividend by an average of 10.2% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Home Bancshares, Inc. (Conway, AR) has a payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.24 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 34.8%.

Home Bancshares, Inc. (Conway, AR) Price Performance

HOMB stock traded down $0.21 during midday trading on Wednesday, reaching $29.88. 1,905,481 shares of the company’s stock traded hands, compared to its average volume of 1,292,475. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 14.79 and a beta of 1.10. The company has a 50-day simple moving average of $29.77 and a two-hundred day simple moving average of $27.94. Home Bancshares, Inc. has a 1-year low of $22.38 and a 1-year high of $32.90.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.31% and a net margin of 27.39%. The firm had revenue of $258.40 million for the quarter, compared to the consensus estimate of $256.67 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Home Bancshares, Inc. will post 2.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HOMB. Keefe, Bruyette & Woods upped their price target on shares of Home Bancshares, Inc. (Conway, AR) from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group reduced their price target on Home Bancshares, Inc. (Conway, AR) from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $28.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Friday, October 18th. Piper Sandler lifted their price target on shares of 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, Stephens restated an “overweight” rating and set a $34.00 price objective on shares of Home Bancshares, Inc. (Conway, AR) in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Insider Activity

In related news, Director James Pat Hickman sold 63,997 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were 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 approximately $5,400,135. This trade represents a 26.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer C. Floyd sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.18, for a total value of $60,360.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,997 shares of company stock valued at $2,782,548. 7.66% of the stock is owned by company insiders.

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.