HomeStreet, Inc. (HMST) To Go Ex-Dividend on August 8th

HomeStreet, Inc. (NASDAQ:HMSTGet Rating) declared a quarterly dividend on Friday, July 29th, Fidelity reports. Investors of record on Tuesday, August 9th will be given a dividend of 0.35 per share by the financial services provider on Tuesday, August 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, August 8th.

HomeStreet has a dividend payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HomeStreet to earn $4.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 31.9%.

HomeStreet Stock Down 0.6 %

HMST stock traded down $0.21 during midday trading on Friday, reaching $35.64. 88,372 shares of the company’s stock traded hands, compared to its average volume of 125,245. HomeStreet has a 52 week low of $33.76 and a 52 week high of $57.40. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.90. The company has a market cap of $666.47 million, a price-to-earnings ratio of 7.60 and a beta of 1.06. The firm’s fifty day moving average price is $36.45 and its 200-day moving average price is $43.13.

HomeStreet (NASDAQ:HMSTGet Rating) last posted its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.04). HomeStreet had a net margin of 28.50% and a return on equity of 14.46%. The company had revenue of $73.07 million for the quarter, compared to the consensus estimate of $78.02 million. During the same quarter in the previous year, the company posted $1.37 EPS. As a group, sell-side analysts forecast that HomeStreet will post 4.25 earnings per share for the current fiscal year.

Insider Buying and Selling at HomeStreet

In related news, Director Mark Robert Patterson bought 7,000 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average cost of $38.58 per share, with a total value of $270,060.00. Following the completion of the acquisition, the director now directly owns 192,000 shares in the company, valued at $7,407,360. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO John Michel acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, May 24th. The stock was acquired at an average cost of $39.80 per share, with a total value of $119,400.00. Following the completion of the purchase, the chief financial officer now owns 40,000 shares of the company’s stock, valued at approximately $1,592,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark Robert Patterson bought 7,000 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average cost of $38.58 per share, with a total value of $270,060.00. Following the completion of the purchase, the director now directly owns 192,000 shares in the company, valued at $7,407,360. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 51,000 shares of company stock worth $1,913,660. 4.80% of the stock is owned by insiders.

Institutional Trading of HomeStreet

Institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of HomeStreet by 28.3% in the 1st quarter. State Street Corp now owns 1,092,200 shares of the financial services provider’s stock worth $51,748,000 after acquiring an additional 240,973 shares during the period. Hsbc Holdings PLC increased its holdings in HomeStreet by 836.4% in the 1st quarter. Hsbc Holdings PLC now owns 67,499 shares of the financial services provider’s stock valued at $3,208,000 after purchasing an additional 60,291 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of HomeStreet by 19.4% during the first quarter. Federated Hermes Inc. now owns 298,771 shares of the financial services provider’s stock valued at $14,156,000 after acquiring an additional 48,460 shares in the last quarter. Quantedge Capital Pte Ltd acquired a new position in HomeStreet in the first quarter worth about $734,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in HomeStreet by 10.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 157,882 shares of the financial services provider’s stock worth $7,480,000 after acquiring an additional 14,587 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HMST. B. Riley lowered HomeStreet from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $55.00 to $43.00 in a research note on Tuesday, June 14th. DA Davidson cut their price target on HomeStreet to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Piper Sandler cut their price target on HomeStreet to $36.00 in a research note on Monday, July 4th. Finally, Wedbush lifted their price objective on HomeStreet to $43.00 in a research report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.75.

HomeStreet Company Profile

(Get Rating)

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

See Also

Dividend History for HomeStreet (NASDAQ:HMST)

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