William Blair Investment Management LLC increased its stake in shares of Home Bancshares Inc (NASDAQ:HOMB) by 83.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,564,936 shares of the financial services provider’s stock after purchasing an additional 714,190 shares during the quarter. William Blair Investment Management LLC owned approximately 0.90% of Home Bancshares worth $36,385,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Horrell Capital Management Inc. lifted its stake in shares of Home Bancshares by 2.0% during the 4th quarter. Horrell Capital Management Inc. now owns 114,564 shares of the financial services provider’s stock worth $2,664,000 after purchasing an additional 2,284 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Home Bancshares by 43.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock valued at $181,000 after buying an additional 2,354 shares during the last quarter. Amalgamated Bank raised its stake in Home Bancshares by 14.4% in the third quarter. Amalgamated Bank now owns 21,239 shares of the financial services provider’s stock valued at $536,000 after buying an additional 2,666 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Home Bancshares by 0.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 587,283 shares of the financial services provider’s stock valued at $13,654,000 after buying an additional 2,683 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Home Bancshares by 28.3% in the third quarter. Teacher Retirement System of Texas now owns 12,933 shares of the financial services provider’s stock valued at $326,000 after buying an additional 2,851 shares during the last quarter. Hedge funds and other institutional investors own 64.94% of the company’s stock.
Shares of HOMB stock opened at $22.34 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.76. Home Bancshares Inc has a 12 month low of $20.82 and a 12 month high of $27.75. The company has a market capitalization of $4,031.81, a PE ratio of 17.18 and a beta of 1.15.
Home Bancshares (NASDAQ:HOMB) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $164.30 million during the quarter, compared to analysts’ expectations of $165.40 million. Home Bancshares had a return on equity of 11.18% and a net margin of 21.79%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. equities research analysts predict that Home Bancshares Inc will post 1.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Tuesday, February 13th. Home Bancshares’s dividend payout ratio is presently 48.35%.
Home Bancshares declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 22nd that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
A number of equities research analysts have commented on the company. BidaskClub upgraded Home Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $30.00 price target on shares of Home Bancshares in a research note on Friday, December 22nd. Zacks Investment Research upgraded Home Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Piper Jaffray Companies reiterated a “hold” rating and issued a $26.00 price target on shares of Home Bancshares in a research note on Tuesday, January 9th. Finally, Sandler O’Neill set a $26.00 price target on Home Bancshares and gave the company a “hold” rating in a research note on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Home Bancshares has a consensus rating of “Hold” and a consensus price target of $27.79.
In other news, Director Richard H. Ashley sold 300,000 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $25.01, for a total value of $7,503,000.00. Following the transaction, the director now directly owns 145,354 shares of the company’s stock, valued at $3,635,303.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.15% of the stock is currently owned by corporate insiders.
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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, and money market accounts, as well as certificates of deposit.
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