Home Bancshares Inc (HOMB) Shares Sold by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company reduced its position in Home Bancshares Inc (NASDAQ:HOMB) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,960 shares of the financial services provider’s stock after selling 10,951 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.21% of Home Bancshares worth $8,348,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in Home Bancshares during the 4th quarter worth approximately $205,000. Zeke Capital Advisors LLC acquired a new position in Home Bancshares during the 1st quarter worth approximately $205,000. Meadow Creek Investment Management LLC lifted its position in Home Bancshares by 69.9% during the 4th quarter. Meadow Creek Investment Management LLC now owns 10,224 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 4,208 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new position in Home Bancshares during the 4th quarter worth approximately $324,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Home Bancshares during the 4th quarter worth approximately $350,000. 64.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman John W. Allison purchased 20,000 shares of the stock in a transaction dated Thursday, April 19th. The stock was acquired at an average cost of $21.32 per share, for a total transaction of $426,400.00. Following the acquisition, the chairman now owns 5,160,629 shares of the company’s stock, valued at $110,024,610.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Russell Davis Carter III sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $23.67, for a total value of $82,845.00. Following the completion of the sale, the insider now owns 16,259 shares of the company’s stock, valued at $384,850.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,500 shares of company stock worth $1,267,604. 9.15% of the stock is currently owned by corporate insiders.
Home Bancshares (NASDAQ:HOMB) last announced its earnings results on Thursday, April 19th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. Home Bancshares had a return on equity of 11.35% and a net margin of 24.23%. The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $164.30 million. During the same period in the prior year, the company posted $0.33 EPS. Home Bancshares’s quarterly revenue was up 32.4% on a year-over-year basis. sell-side analysts expect that Home Bancshares Inc will post 1.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 6th. Shareholders of record on Wednesday, May 16th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Tuesday, May 15th. Home Bancshares’s payout ratio is 32.59%.
Several research firms recently commented on HOMB. Zacks Investment Research raised Home Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. BidaskClub raised Home Bancshares from a “strong sell” rating to a “sell” rating in a research report on Friday, June 22nd. Citigroup started coverage on Home Bancshares in a research report on Monday, June 18th. They set a “buy” rating and a $28.00 price target on the stock. ValuEngine lowered Home Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, FIG Partners raised Home Bancshares from a “market-perform” rating to an “outperform” rating in a research report on Friday, April 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $27.43.
Home Bancshares 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, NOW, and money market accounts, as well as certificates of deposit.
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