Stephens analyst Matt Olney reiterated a Buy rating on Home Bancshares (HOMB) today and set a price target of $22. The company’s shares opened today at $19.06.
Olney said:
“We continue to believe HOMB is operating near peak profitability levels and incremental EPS growth will be derived from adding scale to its $15 billion asset platform. We reiterate our Overweight rating. KEY POINTS: Last week we hosted investor meetings with HOMB and institutional investors in San Francisco. From HOMB, COO Stephen Tipton attended the meetings. Investor questions were primary focused on organic loan growth, core NIM outlook, credit trends, excess capital deployment, CECL outlook, and the company’s HOMB $2.00 EPS goal. Remain Volatile. During 4Q18, organic loan growth was +9% LQA which represents HOMB’s strongest loan growth in 2+ years. Looking to 2019, we’re forecasting growth of 4% and quarterly growth to be volatile.”
According to TipRanks.com, Olney is a 2-star analyst with an average return of 0.2% and a 47.3% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.
Currently, the analyst consensus on Home Bancshares is a Moderate Buy with an average price target of $21.
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Home Bancshares’ market cap is currently $3.25B and has a P/E ratio of 10.99. The company has a Price to Book ratio of 1.38.
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Home Bancshares, Inc. is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Construction/Land Development; Other Commercial Real Estate; Residential Real Estate; Commercial and Industrial; and Consumer and Other. The company was founded by John W. Allison and Robert H. Adcock Jr.
