Today: Today: PNC Financial Services Group Inc. invests in Home BancShares Inc. (HOMB) Shares

Today: PNC Financial Services Group Inc. invests in Home BancShares Inc. (HOMB) Shares

PNC Financial Services Group Inc. increased its stake in Home BancShares Inc. (NASDAQ:HOMB) by 2.1% during the third quarter, Holdings Channel reports. The firm owned 1,285,846 shares of the financial services provider’s stock after buying an additional 27,003 shares during the period. PNC Financial Services Group Inc. owned approximately 0.92% of Home BancShares worth $26,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Delta Asset Management LLC TN boosted its position in Home BancShares by 100.0% in the second quarter. Delta Asset Management LLC TN now owns 6,244 shares of the financial services provider’s stock valued at $124,000 after buying an additional 3,122 shares during the period. Bank of Montreal Can bought a new position in Home BancShares during the second quarter valued at $133,000. Bessemer Group Inc. boosted its position in Home BancShares by 100.0% in the second quarter. Bessemer Group Inc. now owns 7,986 shares of the financial services provider’s stock valued at $158,000 after buying an additional 3,993 shares during the period. Shelton Capital Management boosted its position in Home BancShares by 100.0% in the second quarter. Shelton Capital Management now owns 10,232 shares of the financial services provider’s stock valued at $202,000 after buying an additional 5,116 shares during the period. Finally, M&T Bank Corp boosted its position in Home BancShares by 97.9% in the second quarter. M&T Bank Corp now owns 10,723 shares of the financial services provider’s stock valued at $213,000 after buying an additional 5,304 shares during the period. Hedge funds and other institutional investors own 61.11% of the company’s stock.

Shares of Home BancShares Inc. (NASDAQ:HOMB) traded down 1.76% during trading on Monday, hitting $26.20. 239,337 shares of the stock traded hands. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 22.22 and a beta of 0.96. Home BancShares Inc. has a 1-year low of $16.93 and a 1-year high of $44.76. The firm has a 50-day moving average of $22.55 and a 200-day moving average of $21.61.

Home BancShares (NASDAQ:HOMB) last issued its earnings results on Thursday, October 20th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Home BancShares had a net margin of 32.41% and a return on equity of 13.46%. During the same period last year, the company earned $0.53 EPS. On average, equities analysts forecast that Home BancShares Inc. will post $1.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Wednesday, November 16th will be given a $0.09 dividend. The ex-dividend date is Monday, November 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.35%. Home BancShares’s dividend payout ratio is currently 30.38%.

Several brokerages have commented on HOMB. Merion Capital Group reiterated a “neutral” rating on shares of Home BancShares in a research report on Friday, November 11th. Sandler O’Neill cut shares of Home BancShares from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Tuesday, September 13th. Zacks Investment Research upgraded shares of Home BancShares from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, October 24th. Finally, Keefe, Bruyette & Woods cut shares of Home BancShares from an “outperform” rating to a “market perform” rating and set a $23.00 target price for the company. in a research report on Thursday, November 10th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.91.

In other Home BancShares news, Director Alex R. Lieblong sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $23.01, for a total value of $575,250.00. Following the sale, the director now owns 805,004 shares in the company, valued at $18,523,142.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracy French sold 96,000 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $23.38, for a total transaction of $2,244,480.00. The disclosure for this sale can be found here. 15.02% of the stock is currently owned by company insiders.

About Home BancShares

Home BancShares, Inc is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank).

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