Home BancShares, Inc. (NASDAQ:HOMB) announced on July 18 that it took in record earnings in the second quarter of 2012, but that wasn't enough to keep its small cap stock up the following day.
The company, which own Centennial Bank, reported it had second-quarter earnings of $15.5 million, or $0.55 diluted earnings per common share, compared with the $12.9 million of net income, or $0.45 diluted earnings per common share, that was reported in the same period in 2011.
"I am exceptionally proud of our second quarter results, as our Company was able to once again boost our quarterly earnings to new highs," said chairman John Allison. "Not only was this significantly the most profitable quarter in the company's history, but we also reported improvements in our non-performing non-covered loans and assets."
CEO Randy Sims added that the most recent earnings were 7 percent higher than the last quarterly record that was set.
However, shares of the company dove in the following session. At 2:39 p.m. on Thursday, July 19, the company's stock was down 5 percent to $29.57.