HomeStreet, Inc. (NASDAQ:HMST) Forecasted to Post Q1 2024 Earnings of ($0.16) Per Share

HomeStreet, Inc. (NASDAQ:HMSTFree Report) – Investment analysts at Wedbush decreased their Q1 2024 earnings per share estimates for HomeStreet in a report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn ($0.16) per share for the quarter, down from their previous estimate of ($0.14). 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 $0.19 per share. Wedbush also issued estimates for HomeStreet’s Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.23 EPS and FY2025 earnings at $0.80 EPS.

HomeStreet (NASDAQ:HMSTGet Free Report) last posted 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). HomeStreet had a negative net margin of 6.23% and a positive return on equity of 1.55%. The company had revenue of $45.95 million during the quarter, compared to analyst estimates of $49.73 million.

Several other research analysts also recently issued reports on HMST. Keefe, Bruyette & Woods upped their price objective on HomeStreet from $11.00 to $15.50 and gave the stock a “market perform” rating in a report on Wednesday, January 17th. StockNews.com assumed coverage on HomeStreet in a research note on Saturday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.17.

View Our Latest Report on HMST

HomeStreet Price Performance

HMST opened at $15.05 on Friday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.11 and a quick ratio of 1.10. The stock has a market capitalization of $283.84 million, a P/E ratio of -10.31 and a beta of 1.31. The company’s 50 day simple moving average is $14.29 and its 200-day simple moving average is $10.12. HomeStreet has a one year low of $4.20 and a one year high of $19.09.

Hedge Funds Weigh In On HomeStreet

Several hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. acquired a new position in HomeStreet during the fourth quarter valued at approximately $2,112,000. Vanguard Group Inc. boosted its position in shares of HomeStreet by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 976,964 shares of the financial services provider’s stock worth $10,063,000 after purchasing an additional 30,774 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of HomeStreet by 24.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 122,857 shares of the financial services provider’s stock worth $1,265,000 after purchasing an additional 24,133 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of HomeStreet in the 4th quarter valued at $461,000. Finally, Barclays PLC increased its position in shares of HomeStreet by 707.0% in the 4th quarter. Barclays PLC now owns 24,467 shares of the financial services provider’s stock valued at $252,000 after buying an additional 21,435 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

Insider Activity at HomeStreet

In other HomeStreet news, Director Joanne R. Harrell bought 1,685 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $14.87 per share, with a total value of $25,055.95. Following the acquisition, the director now owns 14,907 shares of the company’s stock, valued at $221,667.09. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 4.60% of the stock is currently owned by company insiders.

About HomeStreet

(Get Free Report)

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.

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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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