Wedbush Comments on HomeStreet, Inc.’s Q2 2024 Earnings (NASDAQ:HMST)

HomeStreet, Inc. (NASDAQ:HMST) – Equities researchers at Wedbush decreased their Q2 2024 earnings estimates for HomeStreet in a report released 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 forecast 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 equities research analysts have also recently commented on HMST. 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 report on Wednesday, January 17th. StockNews.com assumed coverage on shares of HomeStreet in a research report on Wednesday, May 1st. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.17.

HomeStreet Stock Down 2.6 %

HMST stock opened at $10.69 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 4.40. The firm has a 50-day moving average of $13.71 and a two-hundred day moving average of $11.10. HomeStreet has a 12 month low of $4.20 and a 12 month high of $15.82. The company has a market cap of $201.61 million, a price-to-earnings ratio of -5.02 and a beta of 1.35.

Insider Activity

In related news, Director Joanne R. Harrell purchased 1,685 shares of HomeStreet stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $14.87 per share, with a total value of $25,055.95. Following the purchase, the director now owns 14,907 shares of the company’s stock, valued at $221,667.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On HomeStreet

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in HomeStreet by 2.4% in the 4th quarter. Russell Investments Group Ltd. now owns 34,288 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 810 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in 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 worth $26,000 after buying an additional 2,055 shares during the period. Tower Research Capital LLC TRC lifted its holdings in HomeStreet by 132.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock worth $45,000 after buying an additional 2,503 shares in the last quarter. CWM LLC lifted its holdings in HomeStreet by 2,222.2% during the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock worth $37,000 after buying an additional 3,400 shares in the last quarter. Finally, AJOVista LLC acquired a new position in shares of HomeStreet in the fourth quarter worth $38,000. 74.71% of the stock is owned by institutional investors and hedge funds.

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.