CONWAY, Ark., July 24, 2024 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, today announced that its Board of Directors has declared a regular $0.195 per share quarterly cash dividend payable September 4, 2024, to shareholders of record August 14, 2024. This cash dividend represents a $0.015 per share, or 8.3%, increase over the $0.18 cash dividend paid during the second quarter of 2024. FOR MORE INFORMATION CONTACT: Donna Townsell Senior Executive Vice President & ...

Company Performance - Home BancShares reported revenues of $254.6 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 3.99% and down from $257.15 million year-over-year [1] - The company achieved an earnings surprise of 8.33%, with quarterly earnings of $0.52 per share, surpassing the Zacks Consensus Estimate of $0.48 per share [3][9] - Over the last four quarters, Home BancShares has surpassed consensus EPS estimates three times [4] Industry Outlook - The Zacks Industry Rank for Banks - Southeast is currently in the bottom 26% of over 250 Zacks industries, indicating a challenging environment for the sector [2] - Empirical research suggests that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [2] Future Expectations - The current consensus EPS estimate for the upcoming quarter is $0.21 per share, reflecting a year-over-year decline of 8.7% [8] - The consensus EPS estimate for the current fiscal year is $1.97 on revenues of $998.9 million [12] - The estimate revisions trend for Home BancShares is favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [7] Stock Performance - Home BancShares shares have increased approximately 5.2% since the beginning of the year, compared to the S&P 500's gain of 18.8% [5] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [10]

(1) Conway, AR – Home BancShares, Inc. (NYSE: HOMB) ("Home" or the "Company"), parent company of Centennial Bank, released quarterly earnings today. Liquidity and Funding Sources Consistent with the Company's practice of maintaining access to significant external liquidity, the Company had $3.15 billion in net available external liquidity as of June 30, 2024. This included $4.81 billion in available liquidity with the Federal Home Loan Bank (FHLB), of which $1.86 billion has been drawn upon in the ordinary ...

Home BancShares, Inc. Consolidated Net Interest Margin (Unaudited) | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------|----------------------------------------------------|-----------------|-------------|-------|--------------------------------|-----------------|-------------|-------| | (Dollars in thousands) \nASSETS | Three Months Ended \nJune 30, 2024 Average Balance | Income/ Expense | Yield/ Rate | | March 31, 2024 Average Balance | Income/ Expense | ...

Core Insights - Home BancShares, Inc. reported a net income of $101.5 million for Q2 2024, with diluted earnings per share of $0.51, reflecting a slight increase from $100.1 million in Q1 2024 [22][2]. - The company achieved total revenue of $254.6 million in Q2 2024, up from $246.4 million in Q1 2024, indicating a positive trend in revenue growth [2][22]. - The efficiency ratio improved to 43.17% in Q2 2024, down from 44.00% in Q1 2024, demonstrating better cost management [10][17]. Financial Performance - Net income, as adjusted (non-GAAP), was $103.9 million for Q2 2024, compared to $99.2 million in Q1 2024 [22][2]. - Total loans receivable increased to $14.78 billion at June 30, 2024, from $14.51 billion at March 31, 2024, showing a growth of approximately $267.8 million in loans [11][27]. - Non-interest income for Q2 2024 was $42.8 million, with significant contributions from service charges and fees [25]. Liquidity and Capital - The company maintained $3.15 billion in net available external liquidity as of June 30, 2024, which includes $4.81 billion in available liquidity with the Federal Home Loan Bank [4][19]. - Total available liquidity reached $8.38 billion, with $5.82 billion in net available liquidity exceeding uninsured deposits by $1.13 billion [5][20]. - Common equity tier 1 capital stood at 14.4% as of June 30, 2024, reflecting a stable capital position [2][29]. Asset Quality - Non-performing loans to total loans were 0.58% at June 30, 2024, slightly up from 0.55% at March 31, 2024 [12]. - The allowance for credit losses on loans was $295.9 million, or 2.00% of total loans, consistent with the previous quarter [13]. - The company reported net charge-offs of $2.4 million for Q2 2024, down from $3.4 million in Q1 2024 [12]. Operational Highlights - The net interest margin improved to 4.27% for Q2 2024, compared to 4.13% in Q1 2024, driven by an increase in loan yields [7][24]. - Average loans increased from $14.49 billion to $14.65 billion, contributing to the rise in interest income [7]. - Non-interest expense for Q2 2024 was $113.2 million, with salaries and employee benefits being the largest component [10].

In its upcoming report, Home BancShares (HOMB) is predicted by Wall Street analysts to post quarterly earnings of $0.48 per share, reflecting a decline of 5.9% compared to the same period last year. Revenues are forecasted to be $244.83 million, representing a year-over-year decrease of 4.8%. Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. ...

CONWAY, Ark., June 18, 2024 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, today announced it expects to release Second Quarter 2024 earnings after the market closes on July 17, 2024. Following this release, management will conduct a conference call to review these earnings at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, July 18, 2024. Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833- 470-1428, Passcode: ...

CONWAY, Ark., June 18, 2024 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, today announced it expects to release Second Quarter 2024 earnings after the market closes on July 17, 2024. Following this release, management will conduct a conference call to review these earnings at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, July 18, 2024. Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833- 470-1428, Passcode: ...

Core Viewpoint - Home BancShares (HOMB) has received a Zacks Rank 1 (Strong Buy) upgrade, indicating a positive outlook driven by rising earnings estimates [1][4][12]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Home BancShares for the fiscal year ending December 2024 is projected at $1.97 per share, reflecting a -1% change from the previous year [9]. - Over the past three months, the Zacks Consensus Estimate for Home BancShares has increased by 4.7%, indicating a positive trend in earnings estimates [9]. Zacks Rating System - The Zacks rating system is based on changes in a company's earnings picture, which is a key determinant of stock price movements [2][3]. - The system classifies stocks into five groups, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - Home BancShares' upgrade to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for near-term price appreciation [10][12]. Institutional Investor Influence - Changes in earnings estimates significantly influence institutional investors, who adjust their valuations based on these estimates, leading to stock price movements [5][6]. - The rising earnings estimates for Home BancShares are expected to attract institutional buying, further supporting the stock's price increase [6]. Conclusion - The positive earnings outlook and the Zacks Rank upgrade for Home BancShares suggest a favorable investment opportunity, with expectations of stock price appreciation in the near term [4][12].

CONWAY, Ark., May 14, 2024 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE:HOMB) ("Home" or "the Company"), and its wholly-owned subsidiary, Centennial Bank ("Centennial"), while celebrating twenty- five years as a bank, announce some adjustments to the management team, as they look towards the future. Stephen Tipton will assume the position of Chief Executive Officer of Centennial Bank, having served as Chief Operating Officer since 2015. In addition to the role of Chief Lending Officer, Kevin Hester has b ...