James Pat Hickman, a director at Home BancShares Inc. (NASDAQ:HOMB), reported the sale of a significant amount of the company's common stock. On November 18, Hickman disposed of shares totaling approximately $3.08 million. The transactions were executed at prices ranging from $30.76 to $30.84 per share.
The sales included 1,000 shares owned indirectly by his wife's IRA, 15,000 shares by his IRA, and 20,000 shares by the Hickman Family Education Trust. Additionally, Hickman sold 27,997 shares directly. Following these transactions, Hickman retains various holdings, with remaining shares in different accounts, including 5,000 shares of restricted stock subject to vesting conditions.
In other recent news, Home Bancshares (NYSE:HOMB) has seen substantial developments. The company's second-quarter financial results for 2024 demonstrated a significant increase in loans by nearly $270 million and a net interest margin of 4.27%. Adjusted earnings per share reached $0.51, surpassing the previous year's results for the same quarter. Home BancShares' Board of Directors also approved a hike in the quarterly cash dividend to $0.195 per share, an 8.3% increase from the preceding quarter.
Piper Sandler confirmed its Overweight rating on Home Bancshares with a steady price target of $30.00. This was attributed to the company's earnings per share (EPS), which stood at $0.56 after adjustments, surpassing both Piper Sandler's own estimate and the consensus by $0.03.
Stephens also maintained its Overweight rating on Home Bancshares, despite the company's operational earnings per share (EPS) of $0.50, slightly below the consensus estimates of $0.53.
These latest developments reflect the company's commitment to shareholder value and its financial stability.
InvestingPro Insights
As James Pat Hickman's recent stock sale draws attention, it's worth examining Home BancShares Inc.'s (NASDAQ:HOMB) current financial position and market performance. According to InvestingPro data, HOMB boasts a market capitalization of $6.1 billion and a P/E ratio of 15.89, suggesting a relatively modest valuation for a financial institution.
Notably, 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 2.55%. This consistent dividend growth, coupled with a 41.17% one-year price total return, indicates strong performance and shareholder value creation.
The stock's recent momentum is evident, with HOMB trading near its 52-week high and showing a robust 25.59% price total return over the past six months. This aligns with another InvestingPro Tip noting the stock's strong return over the last month, which stands at an impressive 15.44%.
For investors seeking a deeper understanding of HOMB's potential, InvestingPro offers additional insights with 8 more tips available, providing a comprehensive view of the company's financial health and market position.
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