Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Plans Dividend Increase – $0.20 Per Share

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) declared a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Shareholders of record on Wednesday, August 14th will be paid a dividend of 0.195 per share by the financial services provider on Wednesday, September 4th. This represents a $0.78 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, August 14th. This is a positive change from Home Bancshares, Inc. (Conway, AR)’s previous quarterly dividend of $0.18.

Home Bancshares, Inc. (Conway, AR) has increased its dividend payment by an average of 10.8% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Home Bancshares, Inc. (Conway, AR) has a dividend payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Home Bancshares, Inc. (Conway, AR) to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 34.3%.

Home Bancshares, Inc. (Conway, AR) Stock Up 2.3 %

Shares of Home Bancshares, Inc. (Conway, AR) stock opened at $28.33 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.45. The company has a market cap of $5.68 billion, a P/E ratio of 14.60 and a beta of 1.07. The firm’s 50 day moving average price is $24.19 and its 200-day moving average price is $23.97. Home Bancshares, Inc. has a 52-week low of $19.61 and a 52-week high of $28.57.

Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $254.60 million for the quarter, compared to analyst estimates of $247.26 million. Home Bancshares, Inc. (Conway, AR) had a return on equity of 10.41% and a net margin of 27.29%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. On average, sell-side analysts predict that Home Bancshares, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Home Bancshares, Inc. (Conway, AR) from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada lifted their price target on Home Bancshares, Inc. (Conway, AR) from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Stephens reiterated an “overweight” rating and issued a $28.00 price target on shares of Home Bancshares, Inc. (Conway, AR) in a report on Thursday, July 18th. Finally, StockNews.com upgraded shares of Home Bancshares, Inc. (Conway, AR) from a “sell” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.25.

Insider Activity at Home Bancshares, Inc. (Conway, AR)

In other news, insider Kevin Hester sold 25,263 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $27.00, for a total transaction of $682,101.00. Following the sale, the insider now directly owns 114,912 shares of the company’s stock, valued at approximately $3,102,624. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Brian Davis sold 15,391 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $26.89, for a total value of $413,863.99. Following the completion of the sale, the chief financial officer now owns 89,192 shares of the company’s stock, valued at approximately $2,398,372.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kevin Hester sold 25,263 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $27.00, for a total transaction of $682,101.00. Following the transaction, the insider now owns 114,912 shares of the company’s stock, valued at $3,102,624. The disclosure for this sale can be found here. Company insiders own 7.66% of the company’s stock.

About Home Bancshares, Inc. (Conway, AR)

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.