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

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Wall Street brokerages expect that HomeStreet Inc (NASDAQ:HMST) will report earnings per share of $0.40 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for HomeStreet’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.37. HomeStreet posted earnings per share of $0.30 in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The company is scheduled to report its next earnings report on Tuesday, May 5th.

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

HomeStreet (NASDAQ:HMST) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.18. The firm had revenue of $67.44 million during the quarter, compared to the consensus estimate of $64.59 million. HomeStreet had a return on equity of 5.74% and a net margin of 4.97%. During the same period in the prior year, the company posted $0.36 earnings per share.

HMST has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 price target on shares of HomeStreet in a report on Tuesday, January 28th. TheStreet raised HomeStreet from a “c+” rating to a “b” rating in a report on Thursday, November 7th. Piper Sandler initiated coverage on HomeStreet in a report on Thursday, February 6th. They issued a “hold” rating and a $35.00 price target for the company. BidaskClub raised HomeStreet from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Finally, Zacks Investment Research downgraded HomeStreet from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. HomeStreet has a consensus rating of “Hold” and an average target price of $33.00.

In other news, Director James R. Mitchell acquired 3,500 shares of HomeStreet stock in a transaction on Thursday, February 6th. The stock was bought at an average price of $31.90 per share, for a total transaction of $111,650.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $111,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.64% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in HomeStreet in the third quarter valued at approximately $1,538,000. Barclays PLC raised its stake in shares of HomeStreet by 7.6% during the third quarter. Barclays PLC now owns 47,050 shares of the financial services provider’s stock worth $1,285,000 after purchasing an additional 3,320 shares during the last quarter. State of Tennessee Treasury Department raised its stake in shares of HomeStreet by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 11,776 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 926 shares during the last quarter. Congress Asset Management Co. MA raised its stake in shares of HomeStreet by 51.5% during the third quarter. Congress Asset Management Co. MA now owns 139,280 shares of the financial services provider’s stock worth $3,805,000 after purchasing an additional 47,330 shares during the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in shares of HomeStreet by 13.9% during the third quarter. Virginia Retirement Systems ET AL now owns 42,500 shares of the financial services provider’s stock worth $1,161,000 after purchasing an additional 5,200 shares during the last quarter. Institutional investors own 83.61% of the company’s stock.

HMST traded down $0.62 on Friday, reaching $31.18. The company’s stock had a trading volume of 100,848 shares, compared to its average volume of 172,789. The stock has a 50 day moving average of $32.62 and a two-hundred day moving average of $30.31. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $783.82 million, a price-to-earnings ratio of 43.31 and a beta of 0.76. HomeStreet has a fifty-two week low of $24.71 and a fifty-two week high of $35.44.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, February 5th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.92%. This is a boost from HomeStreet’s previous quarterly dividend of $0.11. HomeStreet’s payout ratio is currently 35.29%.

HomeStreet Company Profile

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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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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