Zacks Investment Research Lowers Home Bancshares (NASDAQ:HOMB) to Sell

Home Bancshares (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, 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. “

A number of other equities research analysts have also recently weighed in on HOMB. BidaskClub raised Home Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Stephens reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Home Bancshares in a research note on Monday, March 18th. ValuEngine cut Home Bancshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Finally, Piper Jaffray Companies set a $23.00 price objective on Home Bancshares and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Home Bancshares has an average rating of “Hold” and a consensus price target of $23.60.

Shares of NASDAQ HOMB opened at $18.72 on Thursday. Home Bancshares has a twelve month low of $15.35 and a twelve month high of $24.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $3.13 billion, a PE ratio of 10.70 and a beta of 1.18.

Home Bancshares (NASDAQ:HOMB) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. Home Bancshares had a return on equity of 12.95% and a net margin of 37.12%. The business had revenue of $163.14 million during the quarter, compared to analysts’ expectations of $163.93 million. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, research analysts anticipate that Home Bancshares will post 1.76 EPS for the current year.

In related news, insider Russell Davis Carter III sold 3,333 shares of Home Bancshares stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $18.20, for a total value of $60,660.60. Following the completion of the transaction, the insider now directly owns 16,259 shares in the company, valued at $295,913.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its stake in shares of Home Bancshares by 31.8% in the 4th quarter. Bank of Montreal Can now owns 12,185 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 2,943 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Home Bancshares by 64.2% in the 4th quarter. Rhumbline Advisers now owns 498,474 shares of the financial services provider’s stock worth $8,145,000 after acquiring an additional 194,894 shares in the last quarter. Dupont Capital Management Corp grew its stake in shares of Home Bancshares by 170.8% in the 4th quarter. Dupont Capital Management Corp now owns 38,138 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 24,052 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Home Bancshares by 4.0% in the 4th quarter. TD Asset Management Inc. now owns 120,700 shares of the financial services provider’s stock worth $1,972,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. grew its stake in shares of Home Bancshares by 4.4% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 597,929 shares of the financial services provider’s stock worth $9,770,000 after acquiring an additional 25,023 shares in the last quarter. Hedge funds and other institutional investors own 65.80% of the company’s stock.

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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