Stock BuybacksBy The Online Investor Staff, updated Sun., Feb. 25, 6:12 PM
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Slide #2. Home BancShares, Inc.
Home BancShares, Inc. (NASDAQ:HOMB)
Share Amount Authorized:
Home BancShares, Inc. (Nasdaq:HOMB) ("Home" or "the Company"), parent company of Centennial Bank ("Centennial"), announced today that the Board of Directors has authorized an increase of 5,000,000 in the number of shares of the Company's stock available under its common stock repurchase program which was approved by the Board in January 2008 and previously amended in January 2017. The authorization was made in anticipation of the capital growth expected as a result of the "Tax Cuts and Jobs Act" (the "TCJA") which was signed into law by President Donald Trump on December 22, 2017, reducing the corporate tax rate from 35% to 21%. As of January 31, 2018, a total of approximately 5,200,000 shares remained available for repurchase under the existing repurchase authorization which will increase to approximately 10,200,000 shares available for repurchase with this authorization.
Home Bancshares is a bank holding company. Through its subsidiary, Centennial Bank (the Bank), Co. is engaged in providing a range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Co. originates loans secured by single and multi-family real estate, residential construction and commercial buildings. Co. also provides a range of deposit services, including checking, savings, money market accounts and certificates of deposit. The Bank has branch locations in Arkansas, Florida, South Alabama and New York City. At Dec 31 2016, Co. had total assets of $9.81 billion and deposits of $6.94 billion.
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Hold (2.50 out of 4)
(ranked lower than approx. 82% of all stocks covered)
Based on Zacks ABR data;
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