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

HomeStreet, Inc. (NASDAQ:HMST – Get Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Stockholders of record on Tuesday, May 10th will be paid a dividend of 0.35 per share by the financial services provider on Tuesday, May 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, May 9th.

HomeStreet has a payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HomeStreet to earn $5.49 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 25.5%.

Shares of HMST opened at $40.59 on Friday. The firm has a 50-day moving average of $47.65 and a 200-day moving average of $49.34. HomeStreet has a one year low of $36.20 and a one year high of $57.40. The company has a market cap of $759.03 million, a PE ratio of 7.93 and a beta of 0.98. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.88.

HomeStreet (NASDAQ:HMST – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. HomeStreet had a net margin of 31.04% and a return on equity of 15.46%. During the same period in the prior year, the firm posted $1.35 earnings per share. Analysts expect that HomeStreet will post 4.31 earnings per share for the current year.

In other news, EVP Jay C. Iseman sold 2,904 shares of the firm’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $51.54, for a total transaction of $149,672.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.80% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in HomeStreet by 86.9% in the 2nd quarter. Royal Bank of Canada now owns 1,424 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 662 shares in the last quarter. State of Tennessee Treasury Department raised its stake in HomeStreet by 16.5% in the 4th quarter. State of Tennessee Treasury Department now owns 14,293 shares of the financial services provider’s stock worth $743,000 after purchasing an additional 2,029 shares in the last quarter. Deutsche Bank AG raised its stake in HomeStreet by 3.4% in the 4th quarter. Deutsche Bank AG now owns 24,116 shares of the financial services provider’s stock worth $1,254,000 after purchasing an additional 797 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in HomeStreet by 7.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 30,946 shares of the financial services provider’s stock worth $1,609,000 after purchasing an additional 2,136 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in HomeStreet by 1.2% in the 4th quarter. Legal & General Group Plc now owns 49,775 shares of the financial services provider’s stock valued at $2,588,000 after buying an additional 570 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

A number of research analysts have recently commented on the stock. B. Riley decreased their price objective on shares of HomeStreet from $60.00 to $55.00 in a research report on Tuesday, April 12th. StockNews.com began coverage on shares of HomeStreet in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research cut shares of HomeStreet from a “buy” rating to a “hold” rating in a research note on Friday.

HomeStreet Company Profile (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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