Home Bancshares (HOMB) Releases Quarterly Earnings Results

Home Bancshares (NASDAQ:HOMB) announced its earnings results on Wednesday. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01, Bloomberg Earnings reports. The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $164.30 million. Home Bancshares had a return on equity of 11.18% and a net margin of 21.79%. The company’s revenue was up 32.4% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS.

HOMB stock traded down $0.49 during midday trading on Thursday, hitting $21.42. 877,838 shares of the stock were exchanged, compared to its average volume of 844,289. The stock has a market cap of $3,854.55, a PE ratio of 16.23 and a beta of 1.11. Home Bancshares has a fifty-two week low of $20.82 and a fifty-two week high of $26.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.03 and a current ratio of 1.03.

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Home Bancshares declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 22nd that permits the company to buyback 5,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

HOMB has been the subject of several recent analyst reports. BidaskClub raised Home Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Sandler O’Neill set a $26.00 price target on Home Bancshares and gave the company a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research raised Home Bancshares from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 price target on shares of Home Bancshares in a report on Friday, December 22nd. Finally, Piper Jaffray raised Home Bancshares from a “neutral” rating to an “overweight” rating and set a $28.00 price target for the company in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.64.

In related news, Director Richard H. Ashley sold 300,000 shares of Home Bancshares stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $25.01, for a total transaction of $7,503,000.00. Following the completion of 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.15% of the company’s stock.

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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.

Earnings History for Home Bancshares (NASDAQ:HOMB)

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