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.
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.
- Get a free copy of the StockNews.com research report on HomeStreet (HMST)
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