HomeStreet (HMST) Declares $0.10 Dividend

HomeStreet said on April 24, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.35 per share.

Shares must be purchased before the ex-div date of May 9, 2023 to qualify for the dividend. Shareholders of record as of May 10, 2023 will receive the payment on May 24, 2023.

At the current share price of $17.40 / share, the stock's dividend yield is 2.30%. Looking back five years and taking a sample every week, the average dividend yield has been 2.50%, the lowest has been 1.18%, and the highest has been 8.05%. The standard deviation of yields is 1.40 (n=237).

The current dividend yield is 0.15 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.51. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 1.33%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 439 funds or institutions reporting positions in HomeStreet. This is a decrease of 23 owner(s) or 4.98% in the last quarter. Average portfolio weight of all funds dedicated to HMST is 0.09%, an increase of 0.66%. Total shares owned by institutions increased in the last three months by 1.24% to 18,768K shares. The put/call ratio of HMST is 0.85, indicating a bullish outlook.

Analyst Price Forecast Suggests 27.50% Upside

As of April 25, 2023, the average one-year price target for HomeStreet is 22.18. The forecasts range from a low of 17.17 to a high of $26.25. The average price target represents an increase of 27.50% from its latest reported closing price of 17.40.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for HomeStreet is 305MM, an increase of 13.15%. The projected annual non-GAAP EPS is 3.72.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 1,312K shares representing 6.99% ownership of the company. In it's prior filing, the firm reported owning 1,257K shares, representing an increase of 4.22%. The firm decreased its portfolio allocation in HMST by 9.07% over the last quarter.

Lsv Asset Management holds 901K shares representing 4.80% ownership of the company. In it's prior filing, the firm reported owning 902K shares, representing a decrease of 0.09%. The firm decreased its portfolio allocation in HMST by 10.22% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 535K shares representing 2.85% ownership of the company. No change in the last quarter.

DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 498K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 499K shares, representing a decrease of 0.34%. The firm increased its portfolio allocation in HMST by 2.89% over the last quarter.

IWM - iShares Russell 2000 ETF holds 396K shares representing 2.11% ownership of the company. No change in the last quarter.

HomeStreet Background Information
(This description is provided by the company.)

HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender.

This story originally appeared on Fintel.