HomeStreet Inc (NASDAQ:HMST) declared a quarterly dividend on Thursday, July 30th, Wall Street Journal reports. Shareholders of record on Friday, August 7th will be paid a dividend of 0.15 per share by the financial services provider on Monday, August 24th. This represents a $0.60 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, August 6th.
HomeStreet has a dividend payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HomeStreet to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 26.5%.
Shares of HMST opened at $26.44 on Friday. The stock has a fifty day moving average of $23.83 and a two-hundred day moving average of $25.49. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.96 and a current ratio of 0.99. The company has a market capitalization of $600.34 million, a PE ratio of 12.53 and a beta of 1.01. HomeStreet has a fifty-two week low of $18.44 and a fifty-two week high of $35.44.
HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.50. The company had revenue of $88.10 million during the quarter, compared to the consensus estimate of $76.79 million. HomeStreet had a return on equity of 8.19% and a net margin of 13.45%. As a group, equities research analysts forecast that HomeStreet will post 1.82 earnings per share for the current fiscal year.
In other HomeStreet news, Director Mark Robert Patterson purchased 3,424 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average cost of $22.96 per share, with a total value of $78,615.04. Following the transaction, the director now owns 8,253 shares in the company, valued at $189,488.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Godfrey B. Evans sold 2,321 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $26.66, for a total transaction of $61,877.86. Following the sale, the executive vice president now directly owns 46,127 shares of the company’s stock, valued at $1,229,745.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 18,676 shares of company stock valued at $463,511. 3.62% of the stock is owned by corporate insiders.
A number of research firms have recently commented on HMST. Zacks Investment Research upgraded HomeStreet from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. B. Riley dropped their price objective on HomeStreet from $36.00 to $29.00 and set a “buy” rating for the company in a report on Monday, April 13th. BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a report on Thursday, June 25th. ValuEngine downgraded HomeStreet from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Wedbush began coverage on HomeStreet in a report on Wednesday, June 24th. They set a “neutral” rating and a $28.00 price objective for the company. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.67.
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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