Home BancShares price target raised to $31 from $30 at Piper Sandler

Piper Sandler raised the firm’s price target on Home BancShares (HOMB) to $31 from $30 and keeps an Overweight rating on the shares. The firm noted trends were “more positive” than it had expected with better expense control, one basis point of net interest margin expansion and an exit rate in September of 4.30%. Piper believes Home BancShares has a “strong, consistent” profitability profile and excess capital that is yet to be deployed.