Zacks: Analysts Expect HomeStreet, Inc. (NASDAQ:HMST) Will Announce Earnings of $1.02 Per Share

Equities research analysts expect HomeStreet, Inc. (NASDAQ:HMSTGet Rating) to post $1.02 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for HomeStreet’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $1.14. HomeStreet reported earnings per share of $1.37 during the same quarter last year, which would suggest a negative year over year growth rate of 25.5%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that HomeStreet will report full year earnings of $4.26 per share for the current year, with EPS estimates ranging from $3.88 to $4.60. For the next year, analysts anticipate that the company will report earnings of $5.45 per share, with EPS estimates ranging from $5.00 to $6.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow HomeStreet.

HomeStreet (NASDAQ:HMSTGet Rating) last released its earnings results on Monday, April 25th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $1.35 earnings per share.

Several equities analysts recently weighed in on HMST shares. Piper Sandler cut shares of HomeStreet from a “neutral” rating to an “underweight” rating and cut their target price for the company from $52.00 to $40.00 in a research note on Thursday. B. Riley reduced their target price on HomeStreet from $60.00 to $55.00 in a report on Tuesday, April 12th. Zacks Investment Research downgraded HomeStreet from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Finally, started coverage on HomeStreet in a report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.50.

HomeStreet stock opened at $39.68 on Friday. HomeStreet has a 1 year low of $36.20 and a 1 year high of $57.40. The firm’s 50 day moving average price is $46.62 and its 200-day moving average price is $49.36. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $742.06 million, a P/E ratio of 7.75 and a beta of 1.03.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 24th. Stockholders of record on Tuesday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, May 9th. HomeStreet’s dividend payout ratio is 27.34%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of HMST. Royal Bank of Canada boosted its stake in shares of HomeStreet by 86.9% during the 2nd quarter. Royal Bank of Canada now owns 1,424 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 662 shares during the period. 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 valued at $17,835,000 after buying an additional 46,650 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of HomeStreet in the third quarter worth approximately $205,000. Victory Capital Management Inc. grew its position in HomeStreet by 4.0% in the 3rd quarter. Victory Capital Management Inc. now owns 34,275 shares of the financial services provider’s stock valued at $1,410,000 after acquiring an additional 1,318 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in HomeStreet by 49.9% in the third quarter. Deutsche Bank AG now owns 23,319 shares of the financial services provider’s stock worth $959,000 after purchasing an additional 7,763 shares during the period. 92.87% of the stock is owned by 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.

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