Hot stock to watch: Home Bancshares Inc (NASDAQ: HOMB)

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Home Bancshares Inc (NASDAQ: HOMB) stock rose 6.44% on January 16th, 2020 and continued its bullish momentum on January 17th, 2020  after the company delivered better than expected results for the fourth quarter of FY 19. The company has reported net interest income of $141.1 million for Q4 2019, compared to $144.2 million for Q3 2019. The fourth quarter net interest margin was at 4.24% compared to 4.32% for the third quarter. During the fourth quarter 2019, the company has posted experienced an increase in investment premium amortization of $468,000 or a 1.4 basis point decline in margin from Q3.

Further, the yield on loans was 5.90% and 6.08% for the three months ended December 31, 2019 and September 30, 2019, respectively, as the average loans have fallen from $10.94 billion to $10.87 billion. The rate on interest bearing deposits have declined to 1.21% as of December 31, 2019 from 1.36% as of September 30, 2019, with average balances of $8.82 billion and $8.64 billion, respectively. Total loans receivable had decreased to $10.87 billion at December 31, 2019 compared to $11.07 billion at December 31, 2018. Total deposits have risen to $11.28 billion at December 31, 2019 compared to $10.90 billion at December 31, 2018. Total assets stood at $15.03 billion at December 31, 2019 compared to $15.30 billion at December 31, 2018. During the fourth quarter 2019, the Company has delivered about $97.8 million in organic loan growth.

In addition, Non-performing loans at the end of December 2019 were $17.9 million, $34.7 million, $429,000, $1.8 million and zero in the Arkansas, Florida, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for an aggregate of $54.8 million. Non-performing assets at December 31, 2019 were $22.9 million, $39.2 million, $463,000, $1.8 million and zero in the Arkansas, Florida, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for an aggregate of $64.4 million. Moreover, non-performing loans to total loans had slightly fallen to 0.50% as of December 31, 2019 compared to 0.54% as of September 30, 2019, which is an improvement of 7.26%. Non-performing assets to total assets increased by 5.63% from 0.45% as of September 30, 2019 to 0.43% as of December 31, 2019.

HOMB in the fourth quarter of FY 19 has reported the adjusted earnings per share of 44 cents, beating the analysts’ estimates for the adjusted earnings per share of 42 cents, as per Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 35.9 percent to $167.81 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue by 3.14%.

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