In yesterday’s Wall Street session, HomeStreet Inc. (NASDAQ:HMST) shares traded at $28.42, down -0.91% from the previous session.
As of this writing, 4 analysts cover HomeStreet Inc. (NASDAQ:HMST). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $38.00 and a low of $24.00, we find $31.00. Given the previous closing price of $28.68, this indicates a potential upside of 8.09 percent. HMST stock price is now 6.04% away from the 50-day moving average and -16.92% away from the 200-day moving average. The market capitalization of the company currently stands at $537.14M.
There are 1 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $31.00 as their price target over the next twelve months.
With the price target reduced from $55 to $43, B. Riley Securities Downgraded its rating from Buy to Neutral for HomeStreet Inc. (NASDAQ: HMST). On May 05, 2022, Piper Sandler Downgraded its previous ‘Neutral’ rating to ‘Underweight’ on the stock reducing its target price from $52 to quote $40, while ‘Wedbush’ rates the stock as ‘Outperform’.
In other news, BOGGS SCOTT M, Director bought 500 shares of the company’s stock on Nov 03. The stock was bought for $11,811 at an average price of $23.62. Upon completion of the transaction, the Director now directly owns 28,669 shares in the company, valued at $0.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 02, Director BOGGS SCOTT M bought 500 shares of the business’s stock. A total of $11,760 was incurred on buying the stock at an average price of $23.52. This leaves the insider owning 28,169 shares of the company worth $0.8 million. Insiders disposed of 17,352 shares of company stock worth roughly $0.49 million over the past 1 year. A total of 2.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HMST stock. A new stake in HomeStreet Inc. shares was purchased by NORTH REEF CAPITAL MANAGEMENT LP during the first quarter worth $4,185,000. ASSENAGON ASSET MANAGEMENT S.A. invested $1,805,000 in shares of HMST during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in HomeStreet Inc. valued at approximately $571,000. SCHONFELD STRATEGIC ADVISORS LLC acquired a new stake in HMST for approximately $534,000. EXODUSPOINT CAPITAL MANAGEMENT, LP purchased a new stake in HMST valued at around $531,000 in the second quarter. In total, there are 263 active investors with 90.60% ownership of the company’s stock.
Friday morning saw HomeStreet Inc. (NASDAQ: HMST) opened at $28.31. During the past 12 months, HomeStreet Inc. has had a low of $22.44 and a high of $57.40. The fifty day moving average price for HMST is $26.87 and a two-hundred day moving average price translates $34.10 for the stock.
The latest earnings results from HomeStreet Inc. (NASDAQ: HMST) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $1.08, beating analysts’ expectations of $1.02 by 0.06. This compares to $1.31 EPS in the same period last year. The net profit margin was 32.30% and return on equity was 14.30% for HMST. The company reported revenue of $83.4 million for the quarter, compared to $61.39 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.86 percent. For the current quarter, analysts expect HMST to generate $71.34M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/22/2022. Investors who held shares on 11/08/2022 were paid a $0.35 dividend. On an annualized basis, this represents a $1.40 dividend and a 4.93% percent yield. There was an ex-dividend date of 11/07/2022 for this dividend. In terms of dividend payout ratio, HMST is presently at 28.80%.
HomeStreet Inc.(HMST) Company Profile
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. Its loan products include commercial business and agriculture loans, single family residential mortgages, consumer loans, commercial loans secured by residential and commercial real estate, and construction loans for residential and commercial real estate development, as well as consumer installment loans and permanent loans on commercial real estate and single-family residences. In addition, the company offers its products and services through bank branches, loan production offices, and ATMs, as well as through online, mobile, and telephone banking. As of December 31, 2021, it operated 60 full-service bank branches located in Washington state, Northern and Southern California, the Portland, Oregon, and Hawaii; and five primary stand-alone commercial lending centers in Central Washington, Oregon, Southern California, Idaho, and Utah. HomeStreet, Inc. serves small and medium sized businesses, real estate investors, professional firms, and individuals. The company was formerly known as Continental Mortgage and Loan Company. HomeStreet, Inc. was incorporated in 1921 and is headquartered in Seattle, Washington.