HomeStreet, Inc. (NASDAQ:HMST) to Post FY2024 Earnings of $0.15 Per Share, Wedbush Forecasts

HomeStreet, Inc. (NASDAQ:HMST) – Equities research analysts at Wedbush decreased their FY2024 earnings per share (EPS) estimates for shares of HomeStreet in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $0.15 per share for the year, down from their previous forecast of $0.25. Wedbush has a “Neutral” rating and a $16.00 price objective on the stock. The consensus estimate for HomeStreet’s current full-year earnings is $0.24 per share. Wedbush also issued estimates for HomeStreet’s Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.27 EPS.

HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, January 29th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). HomeStreet had a positive return on equity of 1.55% and a negative net margin of 6.23%. The company had revenue of $45.95 million during the quarter, compared to analyst estimates of $49.73 million.

A number of other research firms have also recently weighed in on HMST. StockNews.com initiated coverage on HomeStreet in a report on Friday, March 22nd. They set a “sell” rating for the company. Keefe, Bruyette & Woods increased their price objective on HomeStreet from $11.00 to $15.50 and gave the company a “market perform” rating in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.17.

HomeStreet Stock Down 0.6 %

Shares of HMST opened at $15.21 on Thursday. The stock has a 50 day simple moving average of $14.28 and a 200-day simple moving average of $10.04. HomeStreet has a 1 year low of $4.20 and a 1 year high of $19.09. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.11 and a quick ratio of 1.10.

Institutional Trading of HomeStreet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its holdings in HomeStreet by 1,460.5% during the third quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 172,221 shares during the period. Acuitas Investments LLC bought a new stake in HomeStreet during the third quarter worth $1,435,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of HomeStreet by 47.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 435,099 shares of the financial services provider’s stock valued at $3,389,000 after acquiring an additional 140,357 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of HomeStreet by 167.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,284 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 2,055 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of HomeStreet by 49.6% in the 3rd quarter. Federated Hermes Inc. now owns 33,802 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 11,213 shares during the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joanne R. Harrell purchased 1,685 shares of the company’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $14.87 per share, with a total value of $25,055.95. Following the purchase, the director now directly owns 14,907 shares of the company’s stock, valued at approximately $221,667.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.60% of the company’s stock.

HomeStreet Company Profile

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services in the Western United States. The company offers personal and business checking, savings, interest-bearing negotiable order of withdrawal, and money market accounts, as well as certificates of deposit; credit cards; insurance; and treasury management services.