UPDATE: Sterne Agee Initiates Coverage on Home Bancshares as Current Valuation Provides Minimal Margin of Safety - Home BancShares (NYSE:HOMB)

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In a report published Thursday, Sterne Agee analyst Peyton Green initiated coverage on

27% profit every 20 days?

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Home Bancshares

(NASDAQ: HOMB) with a Neutral rating.In the report, Sterne Agee noted, “Although our profitability and growth outlook for HOMB is quite favorable, we are initiating coverage with a Neutral rating given the current valuation of 19x our 2014E, 17x our 2015E, and 3.9x pro forma TBVPS of $8.40, which does not provide much, if any, margin of safety, in our view. We believe HOMB will hold a healthy premium to peer multiples, provided our profitability projections pan out.”Home Bancshares closed on Wednesday at $33.10.