Home Bancshares (HOMB) Lowered to Hold at Zacks Investment Research
Home Bancshares (NASDAQ:HOMB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
HOMB has been the topic of a number of other research reports. BidaskClub lowered Home Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Piper Jaffray Companies set a $25.00 price target on Home Bancshares and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $30.00 price target on shares of Home Bancshares in a research note on Friday, December 22nd. Royal Bank of Canada restated a “hold” rating and set a $28.00 price objective on shares of Home Bancshares in a report on Friday, October 20th. Finally, Sandler O’Neill downgraded Home Bancshares from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Friday, October 20th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Home Bancshares currently has a consensus rating of “Hold” and an average price target of $27.50.
Home Bancshares (NASDAQ:HOMB) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Home Bancshares had a return on equity of 11.18% and a net margin of 21.79%. The company had revenue of $164.30 million for the quarter, compared to analyst estimates of $165.40 million. During the same quarter in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. sell-side analysts expect that Home Bancshares will post 1.74 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in HOMB. FMR LLC increased its holdings in shares of Home Bancshares by 25.1% during the 2nd quarter. FMR LLC now owns 1,176,400 shares of the financial services provider’s stock worth $29,292,000 after buying an additional 235,700 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Home Bancshares by 8.4% during the 2nd quarter. California Public Employees Retirement System now owns 202,000 shares of the financial services provider’s stock worth $5,030,000 after buying an additional 15,700 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Home Bancshares by 11.7% during the 2nd quarter. Advisor Group Inc. now owns 5,288 shares of the financial services provider’s stock worth $132,000 after buying an additional 554 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in shares of Home Bancshares during the 2nd quarter worth $626,000. Finally, Stifel Financial Corp increased its holdings in Home Bancshares by 215.2% in the 2nd quarter. Stifel Financial Corp now owns 24,996 shares of the financial services provider’s stock valued at $624,000 after purchasing an additional 17,066 shares in the last quarter. Institutional investors and hedge funds own 63.00% of the company’s stock.
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About Home Bancshares
Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).
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