HomeStreet Inc (NASDAQ:HMST) – Research analysts at B. Riley lifted their Q1 2020 earnings per share (EPS) estimates for HomeStreet in a research note issued on Monday, October 15th. B. Riley analyst S. Moss now expects that the financial services provider will post earnings of $0.27 per share for the quarter, up from their previous forecast of $0.26. B. Riley has a “Buy” rating and a $36.00 price objective on the stock. B. Riley also issued estimates for HomeStreet’s Q2 2020 earnings at $0.77 EPS, Q3 2020 earnings at $0.91 EPS and FY2020 earnings at $2.70 EPS.
HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, July 23rd. The financial services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. The company had revenue of $120.39 million for the quarter, compared to the consensus estimate of $119.61 million. HomeStreet had a return on equity of 6.66% and a net margin of 11.40%. During the same period in the previous year, the business earned $0.42 earnings per share.
HMST opened at $26.18 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.96 and a debt-to-equity ratio of 1.65. The firm has a market cap of $714.89 million, a price-to-earnings ratio of 15.58, a PEG ratio of 1.65 and a beta of 0.33. HomeStreet has a one year low of $24.50 and a one year high of $32.60.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HMST. BlackRock Inc. increased its stake in HomeStreet by 5.8% in the second quarter. BlackRock Inc. now owns 3,762,544 shares of the financial services provider’s stock valued at $101,399,000 after purchasing an additional 205,418 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in HomeStreet by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,280,873 shares of the financial services provider’s stock valued at $65,347,000 after purchasing an additional 15,600 shares during the last quarter. Victory Capital Management Inc. increased its stake in HomeStreet by 47.9% in the second quarter. Victory Capital Management Inc. now owns 1,018,955 shares of the financial services provider’s stock valued at $27,461,000 after purchasing an additional 330,003 shares during the last quarter. Millennium Management LLC increased its stake in HomeStreet by 1.7% in the first quarter. Millennium Management LLC now owns 924,934 shares of the financial services provider’s stock valued at $26,499,000 after purchasing an additional 15,825 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in HomeStreet by 11.7% in the second quarter. Russell Investments Group Ltd. now owns 902,913 shares of the financial services provider’s stock valued at $24,339,000 after purchasing an additional 94,921 shares during the last quarter. 81.25% of the stock is owned by institutional investors.
In other news, EVP Edward Schultz sold 11,644 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $29.48, for a total value of $343,265.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mary L. Vincent sold 8,459 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $29.57, for a total value of $250,132.63. Following the completion of the transaction, the executive vice president now directly owns 14,123 shares of the company’s stock, valued at $417,617.11. The disclosure for this sale can be found here. Insiders own 1.64% of the company’s stock.
HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.
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