Royal Bank of Canada Lowers Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Price Target to $31.00

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) had its price target lowered by analysts at Royal Bank of Canada from $33.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 18.37% from the company’s previous close.

A number of other analysts also recently commented on HOMB. Stephens reaffirmed an “overweight” rating and set a $33.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a research report on Monday. Hovde Group cut their price target on shares of Home Bancshares, Inc. (Conway, AR) from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Finally, StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Home Bancshares, Inc. (Conway, AR) Stock Down 1.0 %

Shares of NYSE:HOMB traded down $0.27 during mid-day trading on Monday, hitting $26.19. 525,112 shares of the company traded hands, compared to its average volume of 1,151,947. The stock has a market cap of $5.20 billion, a P/E ratio of 12.97 and a beta of 0.93. The stock has a 50-day moving average price of $28.06 and a two-hundred day moving average price of $28.81. Home Bancshares, Inc. has a 12-month low of $22.42 and a 12-month high of $32.90. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Home Bancshares, Inc. (Conway, AR) had a net margin of 27.39% and a return on equity of 10.31%. The company had revenue of $260.08 million during the quarter, compared to the consensus estimate of $255.20 million. On average, equities research analysts forecast that Home Bancshares, Inc. will post 2.19 earnings per share for the current year.

Insider Activity

In related news, CEO John W. Allison bought 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was acquired at an average price of $30.76 per share, for a total transaction of $307,600.00. Following the purchase, the chief executive officer now directly owns 5,693,182 shares in the company, valued at $175,122,278.32. This trade represents a 0.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Home Bancshares, Inc. (Conway, AR)

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Home Bancshares, Inc. (Conway, AR) by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 20,291,980 shares of the financial services provider’s stock valued at $574,263,000 after purchasing an additional 121,845 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Home Bancshares, Inc. (Conway, AR) by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,791,837 shares of the financial services provider’s stock valued at $192,211,000 after buying an additional 124,891 shares during the period. Copeland Capital Management LLC grew its position in Home Bancshares, Inc. (Conway, AR) by 0.6% during the fourth quarter. Copeland Capital Management LLC now owns 3,259,934 shares of the financial services provider’s stock worth $92,256,000 after buying an additional 19,290 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Home Bancshares, Inc. (Conway, AR) by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,166,844 shares of the financial services provider’s stock worth $61,322,000 after acquiring an additional 120,691 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Home Bancshares, Inc. (Conway, AR) in the 4th quarter valued at about $60,169,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Home Bancshares, Inc. (Conway, AR) 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, and money market accounts, as well as certificates of deposit.