CBU - Home Bancshares downgraded to Market Perform on slow loan growth outlook

georgeclerk/E+ via Getty Images Shares of Home Bancshares (HOMB) edge lower in pre-market trading after Raymond James analyst Michael Rose downgrades  the stock from an Outperform rating to Market Perform, following Q2 financial results that came in weaker than expected. Q2 earnings fell short of Raymond James' Street high forecast but matched consensus on a core basis. His less constructive outlook on HOMB reflects greater than previously forecast pretax, preprovision income challenges challenges moving into next year due to a lack of loan growth and a steeper yield curve. Sees slower than peer loan growth and in line price/tangible book value multiple to peers on an intermediate-term basis, Rose notes in the report. The Market Perform rating agrees with the Neutral Quant rating (poorest grades on Value and Momentum) and diverges from the Bullish Wall St. analyst rating (3 Very Bullish, 3 Bullish, 1 Neutral). According to the chart below, on

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Home Bancshares downgraded to Market Perform on slow loan growth outlook