Retirement Systems of Alabama boosted its position in Home Bancshares Inc (NASDAQ:HOMB) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,660 shares of the financial services provider’s stock after buying an additional 3,365 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Home Bancshares worth $4,548,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in Home Bancshares in the 2nd quarter worth $184,000. Signition LP acquired a new position in Home Bancshares in the 2nd quarter worth $206,000. OppenheimerFunds Inc. bought a new stake in shares of Home Bancshares in the 2nd quarter worth about $214,000. Nomura Holdings Inc. bought a new stake in shares of Home Bancshares in the 2nd quarter worth about $249,000. Finally, BB&T Securities LLC bought a new stake in shares of Home Bancshares in the 2nd quarter worth about $264,000. Hedge funds and other institutional investors own 64.52% of the company’s stock.
HOMB opened at $19.57 on Wednesday. The stock has a market capitalization of $3.39 billion, a PE ratio of 11.62 and a beta of 1.14. Home Bancshares Inc has a 1-year low of $18.03 and a 1-year high of $25.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Wednesday, November 14th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, November 13th. Home Bancshares’s dividend payout ratio is presently 35.56%.
In related news, insider Jennifer C. Floyd sold 2,000 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $23.88, for a total transaction of $47,760.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tracy French acquired 2,500 shares of the stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average cost of $19.25 per share, with a total value of $48,125.00. Following the transaction, the insider now owns 112,601 shares in the company, valued at $2,167,569.25. The disclosure for this purchase can be found here. 9.15% of the stock is owned by corporate insiders.
HOMB has been the subject of several research analyst reports. ValuEngine raised shares of Home Bancshares from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Zacks Investment Research raised shares of Home Bancshares from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, September 19th. BidaskClub downgraded shares of Home Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Finally, Citigroup dropped their target price on shares of Home Bancshares from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $27.00.
Home Bancshares 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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