JPMorgan Chase & Co. Sells 340,978 Shares of Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB)

JPMorgan Chase & Co. reduced its position in shares of Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) by 26.6% during the second quarter, Holdings Channel reports. The firm owned 940,332 shares of the financial services provider’s stock after selling 340,978 shares during the period. JPMorgan Chase & Co.’s holdings in Home Bancshares, Inc. (Conway, AR) were worth $23,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Corsicana & Co. purchased a new stake in Home Bancshares, Inc. (Conway, AR) during the second quarter worth about $25,000. Harvest Fund Management Co. Ltd purchased a new stake in Home Bancshares, Inc. (Conway, AR) during the first quarter worth about $45,000. Rockefeller Capital Management L.P. increased its holdings in Home Bancshares, Inc. (Conway, AR) by 557.7% during the second quarter. Rockefeller Capital Management L.P. now owns 1,848 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,567 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Home Bancshares, Inc. (Conway, AR) during the second quarter worth about $47,000. Finally, Toronto Dominion Bank increased its holdings in Home Bancshares, Inc. (Conway, AR) by 34.7% during the second quarter. Toronto Dominion Bank now owns 2,120 shares of the financial services provider’s stock worth $52,000 after buying an additional 546 shares during the last quarter. 66.57% of the stock is currently owned by institutional investors.

HOMB opened at $23.50 on Thursday. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 12.05 and a beta of 1.53. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $22.39 and a 200-day moving average price of $24.61. Home Bancshares, Inc. has a twelve month low of $15.83 and a twelve month high of $29.76.

Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB) last posted its earnings results on Wednesday, July 14th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $172.40 million during the quarter, compared to the consensus estimate of $174.17 million. Home Bancshares, Inc. (Conway, AR) had a net margin of 40.76% and a return on equity of 11.86%. The company’s revenue was up 174.5% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. On average, sell-side analysts expect that Home Bancshares, Inc. will post 1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 11th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 10th. This represents a $0.56 annualized dividend and a yield of 2.38%. Home Bancshares, Inc. (Conway, AR)’s dividend payout ratio is currently 30.27%.

In related news, CEO John W. Allison bought 5,000 shares of the company’s stock in a transaction on Thursday, September 30th. The stock was acquired at an average cost of $23.68 per share, for a total transaction of $118,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Allison acquired 10,000 shares of the stock in a transaction dated Monday, September 27th. The stock was acquired at an average price of $23.98 per share, with a total value of $239,800.00. The disclosure for this purchase can be found here. 8.79% of the stock is currently owned by insiders.

A number of research firms recently issued reports on HOMB. Zacks Investment Research downgraded shares of Home Bancshares, Inc. (Conway, AR) from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 5th. Raymond James downgraded shares of Home Bancshares, Inc. (Conway, AR) from an “outperform” rating to a “market perform” rating in a research note on Friday, July 16th.

Home Bancshares, Inc. (Conway, AR) Company Profile

Home Bancshares, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary Centennial Bank. It primarily offers a range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals, and municipalities.

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Institutional Ownership by Quarter for Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB)

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