Wedbush Estimates HomeStreet’s FY2024 Earnings (NASDAQ:HMST)

HomeStreet, Inc. (NASDAQ:HMST) – Stock analysts at Wedbush cut their FY2024 earnings per share (EPS) estimates for HomeStreet in a research report issued to clients and investors on Wednesday, October 30th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of ($1.05) for the year, down from their previous forecast of ($0.70). 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 ($0.21) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.01) EPS, FY2025 earnings at $0.10 EPS and FY2026 earnings at $0.90 EPS.

Several other brokerages have also recently weighed in on HMST. Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. StockNews.com assumed coverage on HomeStreet in a research report on Sunday, September 22nd. They set a “sell” rating for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

HomeStreet Stock Up 0.2 %

Shares of HMST stock opened at $9.07 on Friday. The stock has a 50 day moving average of $14.85 and a 200 day moving average of $12.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock has a market cap of $171.06 million, a P/E ratio of -6.98 and a beta of 1.37. HomeStreet has a twelve month low of $4.89 and a twelve month high of $16.10.

Insider Activity

In other news, Director Paulette Lemon sold 2,401 shares of HomeStreet stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.59, for a total value of $37,431.59. Following the sale, the director now directly owns 16,923 shares of the company’s stock, valued at $263,829.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.60% of the company’s stock.

Institutional Trading of HomeStreet

A number of institutional investors have recently made changes to their positions in the company. Endeavour Capital Advisors Inc. boosted its stake in shares of HomeStreet by 113.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock worth $8,051,000 after acquiring an additional 375,581 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of HomeStreet by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after acquiring an additional 28,874 shares during the last quarter. Mendon Capital Advisors Corp boosted its stake in HomeStreet by 21.0% during the second quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock worth $4,138,000 after buying an additional 63,000 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in HomeStreet during the first quarter worth $3,720,000. Finally, Bank of New York Mellon Corp boosted its stake in HomeStreet by 4.6% during 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 buying an additional 3,113 shares during the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.

About HomeStreet

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.