Home Bancshares Inc (HOMB) Expected to Post Quarterly Sales of $165.97 Million

Brokerages predict that Home Bancshares Inc (NASDAQ:HOMB) will post sales of $165.97 million for the current quarter, according to Zacks. Three analysts have made estimates for Home Bancshares’ earnings, with estimates ranging from $163.20 million to $167.90 million. Home Bancshares posted sales of $131.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 26%. The company is expected to report its next earnings report on Thursday, July 19th.

On average, analysts expect that Home Bancshares will report full year sales of $671.20 million for the current financial year, with estimates ranging from $669.80 million to $673.50 million. For the next financial year, analysts expect that the business will report sales of $711.13 million per share, with estimates ranging from $710.80 million to $711.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Home Bancshares.

Home Bancshares (NASDAQ:HOMB) last announced its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $164.30 million. Home Bancshares had a return on equity of 11.35% and a net margin of 24.23%. Home Bancshares’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS.

Several equities analysts have recently weighed in on HOMB shares. ValuEngine cut Home Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research cut Home Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 24th. BidaskClub upgraded Home Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Sandler O’Neill set a $25.00 price target on Home Bancshares and gave the stock a “hold” rating in a report on Wednesday, March 28th. Finally, FIG Partners upgraded Home Bancshares from a “market-perform” rating to an “outperform” rating in a report on Friday, April 20th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Home Bancshares presently has a consensus rating of “Hold” and a consensus price target of $27.33.

In other Home Bancshares news, Chairman John W. Allison purchased 20,000 shares of the company’s stock in a transaction dated Thursday, April 19th. The stock was bought at an average cost of $21.32 per share, for a total transaction of $426,400.00. Following the completion of the transaction, the chairman now owns 5,160,629 shares in the company, valued at $110,024,610.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Russell Davis Carter III sold 3,500 shares of Home Bancshares stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $23.67, for a total transaction of $82,845.00. Following the completion of the sale, the insider now owns 16,259 shares of the company’s stock, valued at $384,850.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,500 shares of company stock valued at $1,267,604. Corporate insiders own 9.15% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Home Bancshares by 43.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,794 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 2,354 shares in the last quarter. Aperio Group LLC raised its position in Home Bancshares by 8.5% during the first quarter. Aperio Group LLC now owns 37,187 shares of the financial services provider’s stock valued at $848,000 after purchasing an additional 2,905 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Home Bancshares by 9.7% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 33,900 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 3,000 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Home Bancshares by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 95,274 shares of the financial services provider’s stock valued at $2,174,000 after purchasing an additional 3,098 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in Home Bancshares by 0.4% during the fourth quarter. King Luther Capital Management Corp now owns 789,047 shares of the financial services provider’s stock valued at $18,345,000 after purchasing an additional 3,375 shares in the last quarter. Institutional investors own 64.55% of the company’s stock.

Shares of NASDAQ HOMB traded up $0.05 during mid-day trading on Monday, hitting $22.71. The company had a trading volume of 565,775 shares, compared to its average volume of 806,081. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 16.74 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.02 and a quick ratio of 1.02. Home Bancshares has a one year low of $20.82 and a one year high of $26.08.

Home Bancshares announced that its Board of Directors has initiated a share 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 buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 6th. Stockholders of record on Wednesday, May 16th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, May 15th. Home Bancshares’s dividend payout ratio is presently 32.59%.

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.

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Earnings History and Estimates for Home Bancshares (NASDAQ:HOMB)

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