Overview

• U.S. regional bank's Q2 revenue rose and beat analyst expectations

• Adjusted EPS for Q2 beat analyst expectations

• Company completed Mountain Commerce acquisition, boosting loan and deposit growth

Outlook

• Company says Mountain Commerce acquisition positions it for continued revenue growth and earnings accretion

Result Drivers

• MOUNTAIN COMMERCE ACQUISITION - Q2 results benefited from the completed acquisition, which drove increases in loans, deposits, and non-interest income

• REVENUE GROWTH - Record net revenue and adjusted PPNR reflected growth in earning assets and stable net interest margin, with contributions from the acquisition

• HIGHER NON-INTEREST INCOME - Non-interest income rose, driven by higher service charges, fees, a favorable fair value adjustment on marketable securities, and other income, with additional contributions from the acquisition

Company press release: ID:nGNXbtrlNL

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue	Beat	$295.1 mln	$289.25 mln (8 Analysts)
Q2 Adjusted EPS	Beat	$0.64	$0.61 (9 Analysts)
Q2 EPS		$0.59
Q2 Adjusted Net Income	Beat	$128.1 mln	$122.007 mln (9 Analysts)
Q2 Net Income		$119.3 mln
Q2 ROE		10.55%

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Home BancShares Inc is $31.00, about 5.8% above its July 15 closing price of $29.29

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

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