Wedbush Equities Analysts Decrease Earnings Estimates for HomeStreet, Inc. (NASDAQ:HMST)

HomeStreet, Inc. (NASDAQ:HMST - Free Report) - Analysts at Wedbush lowered their Q2 2024 earnings per share estimates for HomeStreet in a research report issued to clients and investors on Wednesday, May 1st. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn ($0.19) per share for the quarter, down from their prior estimate of ($0.03). 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 ($0.38) per share. Wedbush also issued estimates for HomeStreet's Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.11 EPS, FY2024 earnings at ($0.35) EPS, Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.06 EPS and FY2025 earnings at $0.45 EPS.

Several other research firms also recently commented on HMST. Keefe, Bruyette & Woods raised their price target on shares of HomeStreet from $11.00 to $15.50 and gave the stock a "market perform" rating in a research note on Wednesday, January 17th. StockNews.com began coverage on HomeStreet in a research note on Wednesday, May 1st. They issued a "sell" rating on the stock. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.17.

HomeStreet Stock Performance

HMST stock traded down $0.29 during midday trading on Monday, reaching $10.69. The company's stock had a trading volume of 167,199 shares, compared to its average volume of 286,730. HomeStreet has a 1 year low of $4.20 and a 1 year high of $15.82. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day simple moving average of $13.78 and a two-hundred day simple moving average of $11.07.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, Director Joanne R. Harrell acquired 1,685 shares of HomeStreet stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $14.87 per share, with a total value of $25,055.95. Following the completion of the purchase, the director now directly owns 14,907 shares of the company's stock, valued at approximately $221,667.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On HomeStreet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of HomeStreet by 167.2% during 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 purchasing an additional 2,055 shares during the last quarter. CWM LLC increased its position in HomeStreet by 2,222.2% during the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider's stock valued at $37,000 after buying an additional 3,400 shares in the last quarter. AJOVista LLC purchased a new stake in HomeStreet in the fourth quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its holdings in HomeStreet by 132.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider's stock worth $45,000 after acquiring an additional 2,503 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of HomeStreet during the third quarter worth about $71,000. Hedge funds and other institutional investors own 74.71% of the company's stock.

About HomeStreet

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.