Home BancShares, Inc. (NASDAQ:HOMB) unveiled its third quarter earnings results on Thursday 15th October 2020 before market open.
Key Numbers from third quarter earnings result
Quarterly income of $ 0.42 per share, from the revenue of $ 176.09 million
On adjusted basis, reported income of $ 0.47 per share
Analysts Estimated revenue of $ 172.87 million and $ 0.39 income per share
Earnings beat analysts estimates by $ 0.08 or 20.51 percent
Revenues outshined wall street view by $ 3.22 million or 1.86 percent
Earnings declined 4.55 percent compared with the same quarter last year
Revenues escalated 4.98 percent versus third quarter of last year.
The COVID-19 pandemic has created a significant amount of excess liquidity in the market. As a result of this excess liquidity, we had an increase of $ 173.7 million of average interest-bearing cash balances in the third quarter of 2020 compared to the second quarter of 2020. This excess liquidity diluted the net interest margin by 5 basis points.
