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Covington Capital Management Sells 1,773 Shares of Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB)

Defense World · Sep 19, 2022 05:51

Covington Capital Management lowered its holdings in shares of Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB – Get Rating) by 20.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the financial services provider's stock after selling 1,773 shares during the quarter. Covington Capital Management's holdings in Home Bancshares, Inc. (Conway, AR) were worth $145,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Home Bancshares, Inc. (Conway, AR) by 0.8% during the first quarter. Vanguard Group Inc. now owns 15,752,809 shares of the financial services provider's stock worth $356,014,000 after purchasing an additional 131,167 shares during the period. State Street Corp raised its position in Home Bancshares, Inc. (Conway, AR) by 7.4% in the 1st quarter. State Street Corp now owns 7,172,032 shares of the financial services provider's stock valued at $162,088,000 after buying an additional 492,638 shares during the last quarter. American Century Companies Inc. raised its position in Home Bancshares, Inc. (Conway, AR) by 18.3% in the 1st quarter. American Century Companies Inc. now owns 3,980,875 shares of the financial services provider's stock valued at $89,968,000 after buying an additional 616,951 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Home Bancshares, Inc. (Conway, AR) by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,973,531 shares of the financial services provider's stock valued at $89,803,000 after buying an additional 99,183 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Home Bancshares, Inc. (Conway, AR) by 6.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,876,762 shares of the financial services provider's stock valued at $70,050,000 after buying an additional 173,874 shares during the last quarter. Institutional investors and hedge funds own 59.78% of the company's stock.

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Home Bancshares, Inc. (Conway, AR) Stock Performance

HOMB opened at $23.65 on Monday. The company has a market capitalization of $4.85 billion, a PE ratio of 17.01 and a beta of 1.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day simple moving average of $23.40 and a 200 day simple moving average of $22.40. Home Bancshares, Inc. has a 1 year low of $19.83 and a 1 year high of $26.64.

Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB – Get Rating) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.09. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.50% and a net margin of 28.43%. The business had revenue of $243.30 million during the quarter, compared to analysts' expectations of $226.63 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The business's revenue for the quarter was up 41.1% compared to the same quarter last year. Research analysts expect that Home Bancshares, Inc. will post 1.91 EPS for the current year.

Home Bancshares, Inc. (Conway, AR) Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Wednesday, August 17th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 2.79%. Home Bancshares, Inc. (Conway, AR)'s payout ratio is 47.48%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HOMB shares. TheStreet upgraded Home Bancshares, Inc. (Conway, AR) from a "c+" rating to a "b" rating in a research note on Tuesday, August 16th. StockNews.com upgraded Home Bancshares, Inc. (Conway, AR) from a "sell" rating to a "hold" rating in a research note on Thursday, August 11th.

Insiders Place Their Bets

In other news, Director Jack Engelkes purchased 25,000 shares of the business's stock in a transaction on Thursday, June 23rd. The shares were acquired at an average price of $20.58 per share, for a total transaction of $514,500.00. Following the completion of the acquisition, the director now owns 178,634 shares in the company, valued at $3,676,287.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Home Bancshares, Inc. (Conway, AR) news, Director Jack Engelkes purchased 25,000 shares of the firm's stock in a transaction that occurred on Thursday, June 23rd. The stock was bought at an average cost of $20.58 per share, with a total value of $514,500.00. Following the completion of the transaction, the director now owns 178,634 shares of the company's stock, valued at approximately $3,676,287.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Stephen Tipton sold 18,000 shares of the firm's stock in a transaction on Friday, August 5th. The stock was sold at an average price of $23.77, for a total value of $427,860.00. Following the completion of the transaction, the chief operating officer now directly owns 8,308 shares of the company's stock, valued at $197,481.16. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 55,000 shares of company stock worth $1,260,400. Corporate insiders own 9.11% of the company's stock.

About Home Bancshares, Inc. (Conway, AR)

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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.