HomeStreet Inc. (NASDAQ:HMST) shares traded 8.68% higher at $10.27 on Wall Street last session.
In accordance with the data, 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 $10.00 and a low of $8.50, we find $9.00. Given the previous closing price of $9.45, this indicates a potential downside of -4.76 percent. HMST stock price is now 20.48% away from the 50-day moving average and -39.75% away from the 200-day moving average. The market capitalization of the company currently stands at $177.57M.
It has been rated a hold by 4 analysts and a buy by 0. Brokers who have rated the stock have averaged $9.13 as their price target over the next twelve months.
With the price target reduced from $21 to $12, Wedbush Downgraded its rating from Outperform to Neutral for HomeStreet Inc. (NASDAQ: HMST).
In other news, MICHEL JOHN, EVP, Chief Financial Officer bought 10,000 shares of the company’s stock on May 12. The stock was bought for $59,880 at an average price of $5.99. Upon completion of the transaction, the EVP, Chief Financial Officer now directly owns 50,000 shares in the company, valued at $0.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, EVP, Mortgage Lending Director Hand Erik D bought 3,167 shares of the business’s stock. A total of $19,794 was incurred on buying the stock at an average price of $6.25. This leaves the insider owning 12,158 shares of the company worth $0.12 million. Insiders disposed of 11,791 shares of company stock worth roughly $0.12 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 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP during the first quarter worth $4,199,000. WALLEYE CAPITAL LLC invested $2,163,000 in shares of HMST during the first quarter. In the first quarter, MARSHALL WACE, LLP acquired a new stake in HomeStreet Inc. valued at approximately $1,963,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in HMST for approximately $1,594,000. JANE STREET GROUP, LLC purchased a new stake in HMST valued at around $1,470,000 in the second quarter. In total, there are 211 active investors with 90.60% ownership of the company’s stock.
HomeStreet Inc. (NASDAQ: HMST) opened at $9.56 on Friday. During the past 12 months, HomeStreet Inc. has had a low of $4.76 and a high of $36.63. The fifty day moving average price for HMST is $8.61 and a two-hundred day moving average price translates $16.96 for the stock.
The latest earnings results from HomeStreet Inc. (NASDAQ: HMST) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at -$1.67, missing analysts’ expectations of $0.19 by -1.86. This compares to $0.94 EPS in the same period last year. The net profit margin was 0.70% and return on equity was 0.40% for HMST. The company reported revenue of $100.71 million for the quarter, compared to $67.69 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 48.77 percent. For the current quarter, analysts expect HMST to generate $52.95M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/23/2023. Investors who held shares on 08/09/4023 were paid a $0.10 dividend. On an annualized basis, this represents a $0.40 dividend and a 3.89% percent yield. There was an ex-dividend date of 08/08/2023 for this dividend. In terms of dividend payout ratio, HMST is presently at 838.30%.
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, money market accounts, and certificates of deposit; credit cards; insurance; and cash management services. Its loan products include commercial real estate (CRE), multifamily, construction and land development, owner occupied CRE and commercial business loans; and single family, home equity, and other loans. In addition, the company offers online, mobile, and telephone banking. 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.
