FY2024 EPS Estimates for HomeStreet, Inc. (NASDAQ:HMST) Reduced by Analyst

HomeStreet, Inc. (NASDAQ:HMST - Free Report) - Research analysts at Wedbush dropped their FY2024 earnings estimates for shares of HomeStreet in a research report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $0.15 per share for the year, down from their prior estimate of $0.25. Wedbush currently has a "Neutral" rating and a $16.00 target price 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.

Other equities analysts have also recently issued research reports about the stock. StockNews.com initiated coverage on shares of HomeStreet in a research report on Friday, March 22nd. They issued a "sell" rating on the stock. Keefe, Bruyette & Woods increased their price target 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 research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.17.

HomeStreet Stock Down 1.1 %

HomeStreet stock traded down $0.16 during mid-day trading on Thursday, reaching $15.05. The stock had a trading volume of 153,377 shares, compared to its average volume of 345,887. HomeStreet has a fifty-two week low of $4.20 and a fifty-two week high of $19.09. The stock's 50-day simple moving average is $14.28 and its 200-day simple moving average is $10.04. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.10 and a current ratio of 1.11. The firm has a market capitalization of $283.84 million, a PE ratio of -10.49 and a beta of 1.31.

HomeStreet (NASDAQ:HMST - Get Free Report) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.15). The company had revenue of $45.95 million during the quarter, compared to the consensus estimate of $49.73 million. HomeStreet had a negative net margin of 6.23% and a positive return on equity of 1.55%.

Insider Activity

In other HomeStreet news, Director Joanne R. Harrell purchased 1,685 shares of the company's stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $14.87 per share, for a total transaction of $25,055.95. Following the transaction, the director now owns 14,907 shares in the company, valued at approximately $221,667.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On HomeStreet

Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its holdings in shares of HomeStreet by 10.0% in the first quarter. Advisor Group Holdings Inc. now owns 3,390 shares of the financial services provider's stock worth $161,000 after purchasing an additional 309 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of HomeStreet by 57.7% during the first quarter. MetLife Investment Management LLC now owns 10,984 shares of the financial services provider's stock valued at $520,000 after buying an additional 4,021 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of HomeStreet by 12.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,315 shares of the financial services provider's stock worth $820,000 after purchasing an additional 1,859 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of HomeStreet by 1.3% during the first quarter. Yousif Capital Management LLC now owns 21,415 shares of the financial services provider's stock valued at $1,015,000 after buying an additional 270 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in HomeStreet by 19.4% in the 1st quarter. Federated Hermes Inc. now owns 298,771 shares of the financial services provider's stock worth $14,156,000 after buying an additional 48,460 shares during the last quarter. Institutional investors own 74.71% 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.