$0.40 Earnings Per Share Expected for HomeStreet Inc (NASDAQ:HMST) This Quarter

Analysts forecast that HomeStreet Inc (NASDAQ:HMST) will report earnings per share of $0.40 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for HomeStreet’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.46. HomeStreet posted earnings of $0.30 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The firm is scheduled to report its next earnings report on Tuesday, May 5th.

According to Zacks, analysts expect that HomeStreet will report full year earnings of $2.22 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.30. For the next financial year, analysts expect that the business will report earnings of $2.76 per share, with EPS estimates ranging from $2.30 to $2.93. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover HomeStreet.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.18. HomeStreet had a return on equity of 5.74% and a net margin of 4.97%. The firm had revenue of $67.44 million for the quarter, compared to the consensus estimate of $64.59 million. During the same period in the previous year, the business earned $0.36 EPS.

HMST has been the topic of several recent analyst reports. TheStreet upgraded shares of HomeStreet from a “c+” rating to a “b” rating in a report on Thursday, November 7th. BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Zacks Investment Research lowered HomeStreet from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. B. Riley reissued a “buy” rating and issued a $36.00 price objective on shares of HomeStreet in a research note on Tuesday, January 28th. Finally, Piper Sandler started coverage on HomeStreet in a research note on Thursday, February 6th. They issued a “hold” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $33.00.

Shares of HMST traded up $0.07 during trading hours on Friday, hitting $33.39. 175,000 shares of the stock were exchanged, compared to its average volume of 181,890. HomeStreet has a fifty-two week low of $24.71 and a fifty-two week high of $35.44. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.93. The business has a 50-day moving average of $32.81 and a 200-day moving average of $30.17. The firm has a market capitalization of $786.51 million, a P/E ratio of 46.38 and a beta of 0.76.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 4th. This is a positive change from HomeStreet’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 1.80%. HomeStreet’s dividend payout ratio is currently 35.29%.

In related news, Director James R. Mitchell acquired 3,500 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were bought at an average price of $31.90 per share, with a total value of $111,650.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $111,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.64% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its holdings in shares of HomeStreet by 128.0% during the 2nd quarter. Morgan Stanley now owns 156,640 shares of the financial services provider’s stock worth $4,644,000 after acquiring an additional 87,925 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in HomeStreet by 131.7% during the second quarter. UBS Asset Management Americas Inc. now owns 19,524 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 11,096 shares during the period. Nuveen Asset Management LLC bought a new position in HomeStreet during the second quarter worth $4,310,000. State of Alaska Department of Revenue increased its holdings in shares of HomeStreet by 104.0% in the third quarter. State of Alaska Department of Revenue now owns 18,746 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 9,556 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of HomeStreet in the third quarter valued at $1,119,000. 82.49% of the stock is owned by hedge funds and other institutional investors.

About HomeStreet

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.

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