HomeStreet, Inc. Plans Quarterly Dividend of $0.35 (NASDAQ:HMST)

HomeStreet, Inc. (NASDAQ:HMST – Get Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Shareholders of record on Tuesday, May 10th will be given a dividend of 0.35 per share by the financial services provider on Tuesday, May 24th. This represents a $1.40 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, May 9th.

HomeStreet has a dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HomeStreet to earn $5.49 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 25.5%.

HomeStreet stock opened at $40.59 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 0.93. HomeStreet has a 52 week low of $36.20 and a 52 week high of $57.40. The firm has a market cap of $759.03 million, a P/E ratio of 7.93 and a beta of 0.98. The business’s fifty day moving average is $47.65 and its two-hundred day moving average is $49.34.

HomeStreet (NASDAQ:HMST – Get Rating) last issued its quarterly earnings results on Monday, April 25th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. HomeStreet had a return on equity of 15.46% and a net margin of 31.04%. During the same quarter last year, the firm earned $1.35 EPS. On average, equities research analysts predict that HomeStreet will post 4.31 earnings per share for the current year.

In related news, EVP Jay C. Iseman sold 2,904 shares of the company’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $51.54, for a total value of $149,672.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in HomeStreet by 19.0% during the 3rd quarter. Royal Bank of Canada now owns 1,695 shares of the financial services provider’s stock worth $70,000 after buying an additional 271 shares during the period. Parametric Portfolio Associates LLC lifted its stake in HomeStreet by 0.3% in the fourth quarter. Parametric Portfolio Associates LLC now owns 102,420 shares of the financial services provider’s stock valued at $5,326,000 after buying an additional 312 shares in the last quarter. Legal & General Group Plc lifted its stake in HomeStreet by 1.2% in the fourth quarter. Legal & General Group Plc now owns 49,775 shares of the financial services provider’s stock valued at $2,588,000 after buying an additional 570 shares in the last quarter. Deutsche Bank AG lifted its stake in HomeStreet by 3.4% in the fourth quarter. Deutsche Bank AG now owns 24,116 shares of the financial services provider’s stock valued at $1,254,000 after buying an additional 797 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in HomeStreet by 16.5% in the fourth quarter. State of Tennessee Treasury Department now owns 14,293 shares of the financial services provider’s stock valued at $743,000 after buying an additional 2,029 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Several equities analysts have recently issued reports on HMST shares. StockNews.com started coverage on HomeStreet in a research note on Thursday, March 31st. They set a “hold” rating on the stock. B. Riley cut their price target on HomeStreet from $60.00 to $55.00 in a research note on Tuesday, April 12th. Finally, Zacks Investment Research lowered HomeStreet from a “buy” rating to a “hold” rating in a research note on Friday.

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.

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