Equities Analysts Offer Predictions for HomeStreet Inc’s Q3 2020 Earnings (NASDAQ:HMST)

HomeStreet Inc (NASDAQ:HMST) – Research analysts at DA Davidson issued their Q3 2020 earnings estimates for HomeStreet in a note issued to investors on Wednesday, July 29th. DA Davidson analyst J. Rulis forecasts that the financial services provider will post earnings of $0.81 per share for the quarter. DA Davidson also issued estimates for HomeStreet’s FY2021 earnings at $2.75 EPS.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.50. HomeStreet had a net margin of 13.45% and a return on equity of 8.19%. The business had revenue of $88.10 million during the quarter, compared to analyst estimates of $76.79 million.

HMST has been the subject of several other reports. B. Riley decreased their price objective on shares of HomeStreet from $36.00 to $29.00 and set a “buy” rating for the company in a report on Monday, April 13th. ValuEngine lowered shares of HomeStreet from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. BidaskClub lowered shares of HomeStreet from a “hold” rating to a “sell” rating in a report on Thursday, June 25th. Wedbush started coverage on shares of HomeStreet in a research note on Wednesday, June 24th. They issued a “neutral” rating and a $28.00 price target for the company. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of HomeStreet from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. HomeStreet presently has an average rating of “Hold” and an average target price of $29.67.

Shares of NASDAQ HMST opened at $26.44 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 1.21. HomeStreet has a 12 month low of $18.44 and a 12 month high of $35.44. The firm has a market capitalization of $618.70 million, a PE ratio of 12.53 and a beta of 1.01. The firm has a fifty day simple moving average of $23.83 and a two-hundred day simple moving average of $25.49.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.27%. HomeStreet’s dividend payout ratio is currently 35.29%.

In other news, EVP Godfrey B. Evans sold 2,321 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $26.66, for a total transaction of $61,877.86. Following the sale, the executive vice president now owns 46,127 shares of the company’s stock, valued at approximately $1,229,745.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Robert Patterson purchased 13,000 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were bought at an average cost of $25.63 per share, for a total transaction of $333,190.00. Following the acquisition, the director now owns 13,676 shares in the company, valued at $350,515.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 18,676 shares of company stock valued at $463,511. 3.62% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of HomeStreet by 7.0% during the first quarter. State Street Corp now owns 781,277 shares of the financial services provider’s stock valued at $17,368,000 after buying an additional 50,916 shares during the last quarter. NWQ Investment Management Company LLC raised its position in shares of HomeStreet by 7.3% during the first quarter. NWQ Investment Management Company LLC now owns 511,192 shares of the financial services provider’s stock valued at $11,364,000 after buying an additional 34,702 shares during the last quarter. Geode Capital Management LLC raised its position in shares of HomeStreet by 2.6% during the first quarter. Geode Capital Management LLC now owns 356,155 shares of the financial services provider’s stock valued at $7,917,000 after buying an additional 9,127 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of HomeStreet by 30.0% during the first quarter. Acadian Asset Management LLC now owns 345,737 shares of the financial services provider’s stock valued at $7,685,000 after buying an additional 79,775 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of HomeStreet by 3.4% during the first quarter. AQR Capital Management LLC now owns 314,279 shares of the financial services provider’s stock valued at $6,986,000 after buying an additional 10,195 shares during the last quarter. 84.63% of the stock is currently owned by hedge funds and other institutional investors.

About HomeStreet

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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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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