The Vanguard Group, Inc. recently announced the acquisition of new stake in Home Bancshares Inc. (Conway AR) (NYSE:HOMB). The institutional investor has increased its shareholding in the Financial company by 1.77% to 20.93 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 10.29% valued currently at $504.41 million. In addition, BlackRock Fund Advisors raised its holdings by 0.88 million to 20.89 million shares. And American Century Investment Manag has lifted its position by 5.40% or 0.24 million shares – to 4.71 million shares.
With over 3.59 million Home Bancshares Inc. (Conway AR) (HOMB) shares trading Monday and a closing price of $21.64 on the day, the dollar volume was approximately $77.73 million. The shares have shown a negative half year performance of -8.15% and its price on 03/13/23 lost nearly -1.32%. Currently, there are 204.02M common shares owned by the public and among those 189.65M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for HOMB have a consensus price objective of $27.25. The analysts have set the share’s price value over the next 12 months at a high of $28.00 and a low of $26.50. The average price target is 20.59% above its recent price level and an upside to the estimated low will see the stock gain 18.34% over that period. But an upside of 22.71% will see the stock hit the forecast high price target while median target price for the stock is $27.00.
Insiders at the company have transacted a total of 66 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 578,961 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 557,516 shares.
The top 3 mutual fund holders in Home Bancshares Inc. (Conway AR) are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 5.92 million shares of the company’s stock, all valued at over $142.69 million. The company bought an additional 13416.0 shares recently to bring their total holdings to about 2.91% of the shares outstanding. Vanguard Total Stock Market Index bought 5222.0 shares to see its total holdings expand to 5.91 million shares valued at over $142.32 million and representing 2.90% of the shares outstanding. Vanguard Small Cap Index Fund bought 27470.0 shares to bring its total holdings to over 5.02 million shares at a value of $120.99 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.47% of the shares outstanding.
Shares of Home Bancshares Inc. (Conway AR) (NYSE: HOMB) opened at $20.75, down -$1.18 from a prior closing price of $21.93. However, the script later moved the day high at 22.79, down -1.32%. The company’s stock has a 5-day price change of -9.72% and -9.49% over the past three months. HOMB shares are trading -5.05% year to date (YTD), with the 12-month market performance down to -5.09% lower. It has a 12-month low price of $19.83 and touched a high of $26.20 over the same period. HOMB has an average intraday trading volume of 803.09K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.27%, -7.72%, and -7.45% respectively.
Institutional ownership of Home Bancshares Inc. (Conway AR) (NYSE: HOMB) shares accounts for 62.10% of the company’s 204.02M shares outstanding. Mutual fund holders own 23.37%, while other institutional holders and individual stakeholders account for 39.71% and 10.29% respectively.
It has a market capitalization of $4.40B and a beta (3y monthly) value of 1.19. The stock’s trailing 12-month PE ratio is 13.79, while the earnings-per-share (ttm) stands at $1.57. The company has a PEG of 2.76 and the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.45% over the week and 2.95% over the month.
Analysts forecast that Home Bancshares Inc. (Conway AR) (HOMB) will achieve an EPS of $0.51 for the current quarter, $0.52 for the next quarter and $2.11 for 2024. The lowest estimate earnings-per-share for the quarter is $0.49 while analysts give the company a high EPS estimate of $0.52. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -19.10%, and 0.72% over the next financial year. EPS should shrink at an annualized rate of 5.00% over the next five years, compared to 6.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Home Bancshares Inc. (Conway AR) (HOMB) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HOMB, a number of firms have released research notes about the stock. Keefe Bruyette stated their Mkt Perform rating for the stock in a research note on December 13, 2022, with the firm’s price target at $28. Barclays on their part issued Equal Weight rating on February 11, 2019.
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