Home Bancshares, Inc. (HOMB) is expected to report earnings of $1.97 per share for 2024, up 1.8% year-over-year. This growth will be driven by loan growth, but margin contraction will limit the earnings potential. The company’s net interest margin is expected to decline by six basis points over the remaining nine months of 2024 due to rate cuts. However, loan growth is expected to remain steady at 0.6% each quarter, leading to a full-year loan growth of 2.4%. The company’s price-to-tangible book and price-to-earnings ratios suggest a combined target price of $25.3, implying a 2.2% upside from the current market price. Given the updated total expected return, the analyst has downgraded Home Bancshares to a hold rating.