Home Bancshares (HOMB) is Upgraded by Hovde Group to Outperform, Price Target at $50

Home Bancshares (HOMB) is Upgraded by Hovde Group to Outperform according to the research report released to the investors. The brokerage firm has set the Price Target of the shares at $50. Earlier the firm had a rating of Market Perform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

Home Bancshares, Inc. is up 0.86% in the last 3-month period. Year-to-Date the stock performance stands at 27.87%.

Home BancShares, Inc. (NASDAQ:HOMB) has lost 1% during the past week and dropped 5.75% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 0.18%. Home BancShares, Inc. (NASDAQ:HOMB) has underperformed the index by 3.54% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Shares of Home BancShares, Inc. (NASDAQ:HOMB) ended Thursday session in red amid volatile trading. The shares closed down 0.37 points or 0.9% at $40.52 with 241,685 shares getting traded. Post opening the session at $40.74, the shares hit an intraday low of $40.29 and an intraday high of $41.04 and the price vacillated in this range throughout the day. The company has a market cap of $2,841 million and the number of outstanding shares have been calculated to be 70,106,620 shares. The 52-week high of Home BancShares, Inc. (NASDAQ:HOMB) is $47.5 and the 52-week low is $28.41.

Currently the company Insiders own 16.16% of Home BancShares, Inc. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2.45% . Institutional Investors own 55.22% of Home BancShares, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -5.46%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange,The officer (Chief Lending Officer) of Home Bancshares Inc, Hester Kevin sold 2,000 shares at $45.5 on November 23, 2015. The Insider selling transaction had a total value worth of $91,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Home BancShares, Inc. (Home BancShares) is a bank holding company. The Company is primarily 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 wholly owned community bank subsidiary – Centennial Bank (the Bank). The Bank has locations in central Arkansas, north central Arkansas, southern Arkansas, the Florida Keys, central Florida, southwestern Florida and the Florida Panhandle and the Alabama Gulf Coast. As of October 23, 2014, the Company conducted business principally through 82 branches in Arkansas, 61 branches in Florida and 7 branches in South Alabama. In July 2014, HomeBancShares acquired Florida Traditions Bank (Traditions).