HomeStreet, Inc. Plans Quarterly Dividend of $0.35 (NASDAQ:HMST)

HomeStreet, Inc. (NASDAQ:HMSTGet Rating) declared a quarterly dividend on Friday, July 29th, Fidelity reports. Stockholders 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 is Monday, August 8th.

HomeStreet has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.6 %

HomeStreet stock opened at $35.64 on Friday. The firm has a 50-day moving average of $36.45 and a 200-day moving average of $43.13. HomeStreet has a one year low of $33.76 and a one year high of $57.40. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $666.47 million, a price-to-earnings ratio of 7.60 and a beta of 1.06.

HomeStreet (NASDAQ:HMSTGet Rating) last posted its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). HomeStreet had a return on equity of 14.46% and a net margin of 28.50%. The business had revenue of $73.07 million for the quarter, compared to analyst estimates of $78.02 million. During the same quarter in the prior year, the company earned $1.37 earnings per share. On average, equities analysts expect that HomeStreet will post 4.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at HomeStreet

In related news, Director Mark Robert Patterson purchased 5,000 shares of the stock in a transaction on Thursday, June 16th. The shares were purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the director now directly owns 217,000 shares in the company, valued at $7,410,550. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO John Michel purchased 3,000 shares of the stock in a transaction on Tuesday, May 24th. The shares were purchased at an average cost of $39.80 per share, with a total value of $119,400.00. Following the acquisition, the chief financial officer now directly owns 40,000 shares in the company, valued at $1,592,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark Robert Patterson purchased 5,000 shares of the stock in a transaction on Thursday, June 16th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the acquisition, the director now owns 217,000 shares in the company, valued at $7,410,550. The disclosure for this purchase can be found here. Insiders have purchased a total of 51,000 shares of company stock valued at $1,913,660 in the last three months. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HMST. Advisor Group Holdings Inc. increased its holdings in shares of HomeStreet by 10.0% during the first quarter. Advisor Group Holdings Inc. now owns 3,390 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 309 shares during the period. MetLife Investment Management LLC increased its holdings in shares of HomeStreet by 57.7% during the first quarter. MetLife Investment Management LLC now owns 10,984 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 4,021 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of HomeStreet by 12.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,315 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 1,859 shares during the period. Yousif Capital Management LLC increased its holdings in shares of HomeStreet by 1.3% during the first quarter. Yousif Capital Management LLC now owns 21,415 shares of the financial services provider’s stock worth $1,015,000 after purchasing an additional 270 shares during the period. Finally, Federated Hermes Inc. increased its holdings 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 worth $14,156,000 after purchasing an additional 48,460 shares during the period. 92.87% of the stock is owned by institutional investors.

About HomeStreet

(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.

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Dividend History for HomeStreet (NASDAQ:HMST)

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