Factors Likely to Have Influenced Earnings Results HomeStreet (NASDAQ:HMST)

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Earnings results for HomeStreet (NASDAQ:HMST)

HomeStreet last posted its quarterly earnings data on July 25th, 2021. The financial services provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The business earned $86.20 million during the quarter, compared to analysts’ expectations of $86.18 million. HomeStreet has generated $3.85 earnings per share over the last year ($5.12 diluted earnings per share) and currently has a price-to-earnings ratio of 8.5. Earnings for HomeStreet are expected to decrease by -16.67% in the coming year, from $4.92 to $4.10 per share. HomeStreet has confirmed that its next quarterly earnings report will be published on Monday, October 25th, 2021. HomeStreet will be holding an earnings conference call on Tuesday, October 26th at 1:00 PM Eastern. Interested parties can or dial in at 877-344-7529 with passcode “10160178”.

Analyst Opinion on HomeStreet (NASDAQ:HMST)

According to the issued ratings of 2 analysts in the last year, the consensus rating for HomeStreet stock is Buy based on the current 1 hold rating and 1 buy rating for HMST. The average twelve-month price target for HomeStreet is $54.50 with a high price target of $60.00 and a low price target of $49.00.

on HMST’s analyst rating history

HomeStreet has received a consensus rating of Buy. The company’s average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $54.50, HomeStreet has a forecasted upside of 25.5% from its current price of $43.42. HomeStreet has received no research coverage in the past 90 days.

Dividend Strength: HomeStreet (NASDAQ:HMST)

HomeStreet pays a meaningful dividend of 2.28%, higher than the bottom 25% of all stocks that pay dividends. HomeStreet has only been increasing its dividend for 2 years. The dividend payout ratio of HomeStreet is 25.97%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, HomeStreet will have a dividend payout ratio of 24.39% next year. This indicates that HomeStreet will be able to sustain or increase its dividend.

Insiders buying/selling: HomeStreet (NASDAQ:HMST)

In the past three months, HomeStreet insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $691,100.00 in company stock and sold $0.00 in company stock. Only 3.80% of the stock of HomeStreet is held by insiders. 86.64% of the stock of HomeStreet is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of HomeStreet (NASDAQ:HMST

Earnings for HomeStreet are expected to decrease by -16.67% in the coming year, from $4.92 to $4.10 per share. The P/E ratio of HomeStreet is 8.48, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 15.24. The P/E ratio of HomeStreet is 8.48, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 15.00. HomeStreet has a P/B Ratio of 1.32. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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