Wedbush Weighs in on HomeStreet, Inc.’s Q3 2024 Earnings (NASDAQ:HMST)

HomeStreet, Inc. (NASDAQ:HMST) – Equities researchers at Wedbush lowered their Q3 2024 earnings per share estimates for shares of HomeStreet in a research report issued on Tuesday, July 30th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of ($0.13) for the quarter, down from their previous estimate of $0.02. The consensus estimate for HomeStreet’s current full-year earnings is ($0.87) per share. Wedbush also issued estimates for HomeStreet’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.70) EPS and Q1 2025 earnings at ($0.06) EPS.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The firm had revenue of $114.35 million during the quarter, compared to the consensus estimate of $43.33 million. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%.

Other equities analysts have also recently issued research reports about the stock. StockNews.com initiated coverage on shares of HomeStreet in a report on Sunday, July 28th. They issued a “sell” rating on the stock. Keefe, Bruyette & Woods raised their price target on HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Finally, Janney Montgomery Scott upgraded HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.25.

HomeStreet Trading Down 0.6 %

NASDAQ HMST opened at $14.11 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.17 and a current ratio of 1.14. HomeStreet has a one year low of $4.20 and a one year high of $15.82. The company has a 50-day simple moving average of $11.25 and a 200-day simple moving average of $12.53. The firm has a market capitalization of $266.11 million, a PE ratio of -6.62 and a beta of 1.38.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. 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 buying an additional 810 shares in the last quarter. EMC Capital Management boosted its holdings in shares of HomeStreet by 16.2% in the first quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,201 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of HomeStreet by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 1,354 shares during the period. Tower Research Capital LLC TRC raised its holdings in HomeStreet by 132.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 2,503 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in HomeStreet by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 3,113 shares during the period. 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.