HomeStreet (NASDAQ:HMST) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

HomeStreet (NASDAQ:HMSTGet Rating) issued its earnings results on Monday. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.06, Fidelity Earnings reports. HomeStreet had a net margin of 31.69% and a return on equity of 16.28%. During the same period in the prior year, the company posted $1.35 earnings per share.

Shares of NASDAQ:HMST opened at $44.33 on Tuesday. The company’s 50 day simple moving average is $48.46 and its 200 day simple moving average is $49.48. The stock has a market capitalization of $829.02 million, a price-to-earnings ratio of 8.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.88. HomeStreet has a 1 year low of $36.20 and a 1 year high of $57.40.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 23rd. Investors of record on Wednesday, February 9th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.16%. This is a boost from HomeStreet’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, February 8th. HomeStreet’s dividend payout ratio (DPR) is 25.64%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of HomeStreet from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, April 5th. B. Riley cut their price objective on shares of HomeStreet from $60.00 to $55.00 in a research report on Tuesday, April 12th. Finally, StockNews.com began coverage on shares of HomeStreet in a research report on Thursday, March 31st. They set a “hold” rating for the company.

In related news, EVP Jay C. Iseman sold 2,904 shares of HomeStreet stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $51.54, for a total value of $149,672.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its stake in shares of HomeStreet by 18.4% during the fourth quarter. State Street Corp now owns 851,227 shares of the financial services provider’s stock worth $44,264,000 after buying an additional 132,270 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of HomeStreet by 109.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 390,122 shares of the financial services provider’s stock worth $20,287,000 after buying an additional 204,160 shares during the last quarter. Morgan Stanley grew its stake in shares of HomeStreet by 11.9% during the second quarter. Morgan Stanley now owns 437,805 shares of the financial services provider’s stock worth $17,835,000 after buying an additional 46,650 shares during the last quarter. Millennium Management LLC grew its stake in shares of HomeStreet by 64.0% during the fourth quarter. Millennium Management LLC now owns 340,674 shares of the financial services provider’s stock worth $17,715,000 after buying an additional 132,982 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of HomeStreet by 0.3% during the fourth quarter. Parametric Portfolio Associates LLC now owns 102,420 shares of the financial services provider’s stock worth $5,326,000 after buying an additional 312 shares during the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

About HomeStreet (Get Rating)

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services primarily in the Western United States. The company offers personal and business checking, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; credit cards; insurance; and treasury management products and services.

Recommended Stories

Earnings History for HomeStreet (NASDAQ:HMST)

Receive News & Ratings for HomeStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HomeStreet and related companies with MarketBeat.com's FREE daily email newsletter.