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Downgrade Alert for Home Bancshares (HOMB)

By David Diaz

Home Bancshares (NASDAQ:HOMB) was downgraded from Buy to Hold at Sandler O'Neill today. The stock closed yesterday at $22.31 on volume of 432,000 shares, above average daily volume of 227,000.

In the past 52 weeks, shares of Home Bancshares have traded between a low of $16.94 and a high of $23.75 and closed yesterday at $22.31, which is 32% above that low price. The 200-day and 50-day moving averages have moved 0.17% higher and 0.50% higher over the past week, respectively.

There is potential upside of 101.7% for shares of Home Bancshares based on a current price of $22.31 and an average consensus analyst price target of $45.00. Home Bancshares shares have support at the 50-day moving average (MA) of $21.07 and additional support at the 200-day MA of $20.48.

Home Bancshares Inc. is a bank holding company whose subsidiaries provide a range of commercial and retail banking services to businesses, real estate developers and investors, individuals and municipalities. The Banks serve central Arkansas, and the Florida Keys and southwestern Florida.

SmarTrend recommended that subscribers consider buying shares of Home Bancshares on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.62. Since that recommendation, shares of Home Bancshares have risen 10.4%. We continue to monitor HOMB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades home bancshares

Ticker(s): HOMB