Alex R. Lieblong, a director at Home BancShares Inc. (NASDAQ:HOMB), recently sold 55,000 shares of the company's common stock. The shares were sold at a price of $32.75 each, amounting to a total transaction value of approximately $1.8 million. Following this sale, Lieblong holds no shares indirectly through the Key Colony Fund, but retains direct ownership of 571,553 shares, including restricted stock. The restricted stock is set to vest in installments over the coming years, as per prior grants.
In other recent news, Home Bancshares (NYSE:HOMB) reported significant developments in their earnings and revenue results. The company's adjusted earnings per share (EPS) stood at $0.56, surpassing both Piper Sandler's estimate and the consensus by $0.03, attributed to a decrease in expenses and a rise in net interest income. Furthermore, Home Bancshares reported an end-of-period loan increase of 1.2% on a linked quarter annualized basis, outperforming the anticipated decrease.
However, the company observed a 5.9% decline in total deposits, contrasting with the projected 1.5% growth. Additionally, Home Bancshares' second-quarter financial results for 2024 revealed an increase in loans by nearly $270 million and an adjusted EPS of $0.51, surpassing the previous year's results for the same quarter.
In other recent developments, the company's Board of Directors approved an 8.3% increase in the quarterly cash dividend to $0.195 per share. Analyst firms Piper Sandler and Stephens both maintained an Overweight rating on Home Bancshares, with a steady price target of $30.00. These recent developments highlight the company's commitment to shareholder value and its financial stability.
InvestingPro Insights
As Home BancShares Inc. (NASDAQ:HOMB) experiences insider selling, it's worth noting some key financial metrics and trends that provide context to this transaction. According to InvestingPro data, HOMB's market capitalization stands at $6.4 billion, with a price-to-earnings ratio of 16.67, suggesting a relatively moderate valuation compared to industry peers.
The company's stock has shown strong performance recently, with a 20.06% price return over the past month and a 36.92% return over the last six months. This upward trend is reflected in an InvestingPro Tip, which notes that HOMB is trading near its 52-week high, currently at 97.51% of that peak.
Despite the recent insider sale, HOMB has demonstrated a commitment to shareholder returns. An InvestingPro Tip highlights that the company has raised its dividend for 11 consecutive years, with a current dividend yield of 2.43%. This consistent dividend growth may provide some reassurance to investors in light of the director's stock sale.
For those seeking a more comprehensive analysis, InvestingPro offers 8 additional tips that could provide further insights into HOMB's financial health and market position.
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