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

HomeStreet, Inc. (NASDAQ:HMST) – Equities research analysts at Wedbush reduced their Q2 2024 earnings per share (EPS) estimates for HomeStreet in a report issued on Wednesday, May 1st. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of ($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.

A number of other analysts have also recently commented on HMST. StockNews.com assumed coverage on HomeStreet in a research report on Wednesday, May 1st. They issued a “sell” rating for the company. Keefe, Bruyette & Woods boosted their price target on HomeStreet from $11.00 to $15.50 and gave the stock a “market perform” rating in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, HomeStreet currently has a consensus rating of “Hold” and a consensus price target of $12.17.

HomeStreet Stock Up 1.5 %

HomeStreet stock opened at $10.98 on Monday. The stock has a market capitalization of $207.08 million, a PE ratio of -5.15 and a beta of 1.35. HomeStreet has a 12 month low of $4.20 and a 12 month high of $15.82. The business has a 50 day simple moving average of $13.78 and a 200-day simple moving average of $11.07. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.17 and a quick ratio of 1.10.

Insider Buying and Selling

In other news, Director Joanne R. Harrell purchased 1,685 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $14.87 per share, for a total transaction of $25,055.95. Following the completion of the transaction, the director now owns 14,907 shares of the company’s stock, valued at $221,667.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On HomeStreet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HMST. Acuitas Investments LLC acquired a new position in HomeStreet during the third quarter worth $1,435,000. Allspring Global Investments Holdings LLC acquired a new position in HomeStreet during the third quarter worth $71,000. Assenagon Asset Management S.A. boosted its stake in HomeStreet by 1,460.5% during the third quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 172,221 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in HomeStreet during the third quarter worth $84,000. Finally, Campbell & CO Investment Adviser LLC boosted its stake in HomeStreet by 135.0% during the third quarter. Campbell & CO Investment Adviser LLC now owns 32,827 shares of the financial services provider’s stock worth $256,000 after buying an additional 18,859 shares during the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

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.