Ultime notizie per HomeStreet (NASDAQ:HMST) Azioni

HomeStreet

HomeStreet Inc is a commercial bank. It provides commercial loans and consumer loans including mortgage loans, deposit products, private banking, and cash management services. The company loan products include commercial business loans and agriculture loans, consumer loans, single family residential mortgages, loans secured by commercial real estate and construction loans for residential and commercial real estate projects.

HomeStreet Inc

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HomeStreet Enters Agreement To Sell $990M In Multi-Family Commercial Real Estate Loans To Bank of America

Wedbush analyst David Chiaverini maintains HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) with a Outperform and raises the price target from $12 to $15.

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Wedbush Maintains Outperform on HomeStreet, Raises Price Target to $15

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

Wedbush analyst David Chiaverini upgrades HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) from Neutral to Outperform and announces $12 price target.

Upgrades

Wedbush Upgrades HomeStreet to Outperform, Announces $12 Price Target

HomeStreet shares are trading lower after the company reported worse-than-expected Q3 EPS results.

FSUN

FirstSun Capital Bancorp, HomeStreet Reveal Disappointment That Regulators Are Unwilling To Grant Approvals Necessary For Merger To Proceed; Companies Discussing Terms On Which They Would Terminate Merger Deal If No Alternative Structure Is Feasible

Earnings

Earnings Misses

HomeStreet Q3 2024 GAAP EPS $(0.39) Misses $(0.24) Estimate

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) to report quarterly earnings at $1.58 per share on revenue of $14.41 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Morgan Stanley shares gained 0.2% to $112.49 in after-hours trading.</li>
<li>J.B. Hunt Transport Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) reported better-than-expected third-quarter financial results. The company reported quarterly earnings of $1.49 per share which beat the analyst consensus estimate of $1.47 per share. The company reported quarterly sales of $3.07 billion which beat the analyst consensus estimate of $3.02 billion. J.B. Hunt shares climbed 7.1% to $187.00 in the after-hours trading session.</li>
<li>Analysts are expecting Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) to post quarterly earnings at 77 cents per share on revenue of $25.29 billion. The company will release earnings before the markets open. Abbott shares gained 0.1% to $116.10 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Interactive Brokers Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) reported weaker-than-expected earnings for its third quarter on Tuesday. Interactive Brokers shares fell 4% to $146.85 in the after-hours trading session.</li>
<li>Analysts expect U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) to report quarterly earnings at 99 cents per share on revenue of $6.9 billion before the opening bell. U.S. Bancorp shares rose 0.6% to $47.29 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41342689/top-3-tech-and-telecom-stocks-that-could-lead-to-your-biggest-gains-this-quarter">Top 3 Tech And Telecom Stocks That Could Lead To Your Biggest Gains This Quarter</a></li>
</ul>
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Morgan Stanley, Abbott Laboratories And 3 Stocks To Watch Heading Into Wednesday

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) with a Market Perform and raises the price target from $13.5 to $14.5.

Keefe, Bruyette & Woods Maintains Market Perform on HomeStreet, Raises Price Target to $14.5

HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) reported quarterly losses of $(0.23) per share which beat the analyst consensus estimate of $(0.26) by 11.54 percent. This is a 235.29 percent decrease over earnings of $0.17 per share from the same period last year.

Earnings Beats

HomeStreet Q2 Adj $(0.23) Beats $(0.26) Estimate

HomeStreet, Inc. ("the Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) today announced that the preliminary vote count indicates that its shareholders approved the Agreement and Plan of Merger dated as of January 16, 2024, by and between FirstSun Capital Bancorp, the Company and Dynamis Subsidiary, Inc., as amended on April 30, 2024. Final voting results of the shareholder meeting held on June 18, 2024 will be filed with the Company's Form 8-K on Thursday June 20, 2024.

HomeStreet Approves Merger With FirstSun

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) with a Market Perform and maintains $13.5 price target.

Keefe, Bruyette & Woods Maintains Market Perform on HomeStreet, Maintains $13.5 Price Target

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) with a Market Perform and lowers the price target from $15.5 to $13.5.

Keefe, Bruyette & Woods Maintains Market Perform on HomeStreet, Lowers Price Target to $13.5

HomeStreet shares are trading lower after the company reported worse-than-expected Q1 GAAP EPS results.

HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) reported quarterly losses of $(0.40) per share which missed the analyst consensus estimate of $(0.08) by 400 percent.

HomeStreet Q1 2024 GAAP EPS $(0.40) Misses $(0.08) Estimate

<ul>
<li>an increase in FirstSun's total equity capital raised in connection with the merger of an additional $45 million to $60 million, resulting in an increase from an aggregate capital raise of $175 million to up to $235 million (as further discussed below);</li>
<li>a revised exchange ratio pursuant to which HomeStreet shareholders will receive 0.3867 shares (revised from 0.4345 shares under the original merger agreement) of FirstSun common stock for each share of HomeStreet common stock, which represents a value of $13.53 per share (based on the closing price per share of FirstSun shares on April 29, 2024);</li>
<li>a reduced termination fee payable by HomeStreet in certain circumstances if HomeStreet receives a competing acquisition proposal within 30 days after the effective date of the Amendment to $2,600,000, plus reimbursement of FirstSun's transaction fees and expenses;</li>
<li>that the combined company's ongoing banking operations will operate under a Texas state charter with FirstSun's subsidiary bank, Sunflower Bank, converting from a national bank to a Texas state chartered bank and that Sunflower Bank will also seek membership in the Federal Reserve System;</li>
<li>FirstSun's issuance of $48.5 million of subordinated debt concurrently with the closing, the proceeds of which will be contributed to Sunflower Bank to further support Sunflower Bank's capital; and</li>
<li>HomeStreet's disposition or sale of approximately $300 million (based on principal balance) of certain of its Commercial Real Estate loans, which disposition or loan sales will be consummated upon, or as soon as reasonably practicable, after the closing of the merger</li>
</ul>

FirstSun Capital Bancorp And HomeStreet Amend Merger Agreement; Increase In Firstsun's Total Equity Capital Raised In Connection With Merger Of Additional $45M-60M; Revised Ratio Which HomeStreet Shareholders Receive 0.3867 Shares

More than a dozen banks in the U.S. find themselves under the keen eye of financial watchdogs due to their sizable portfolios of commercial <a href="https://www.benzinga.com/topic/commercial-real-estate">real estate (CRE) loans.</a>
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency jointly indicated their intent to scrutinize banks with CRE loan portfolios exceeding triple their capital and with growth that has exceeded 50% over the past three years. 
New York Community Bancorp, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) is not among institutions deserving increasing scrutiny. Despite having a CRE loan to total capital ratio of 462% — surpassing the regulatory concern threshold of 300% — NYCB&#8217;s portfolio growth of 25% over the past five years keeps it below the critical 50% growth threshold that watchdogs find alarming. 
This distinction is particularly noteworthy in light of NYCB&#8217;s recent underperformance and increased investor scrutiny following a lackluster earnings report earlier this month.
<h3 class="wp-block-heading">Regional Banks Under the Microscope </h3>
A Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-02-15/which-banks-may-face-scrutiny-of-commercial-real-estate-exposure?srnd=premium&amp;sref=TBDibEcD">analysis</a> of federal data spanning over 350 bank holding companies highlighted that numerous smaller lenders have attracted increased regulatory scrutiny. This is because they&#8217;ve rapidly built up significantly large concentrations in their CRE portfolios in recent years.
Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) is identified as the largest institution that fits the criteria for heightened regulatory examination, with a staggering 80% growth in CRE loans over the past three years and an exposure that constitutes 471% of its total capital. 
Alongside Valley National, other banks such as HomeStreet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>), First Foundation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NASDAQ">FFWM</a>), Dime Community Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>), Bridgewater Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>), Hometown Financial Group MHC, Axos Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>), OceanFirst Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>), First Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NASDAQ">FBMS</a>), Chemung Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>), Watford City Bancshares Inc., Civista Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIVB#NASDAQ">CIVB</a>), BCI Financial Group Inc., Veritex Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBTX#NASDAQ">VBTX</a>), ServisFirst Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>), Independent Bank Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>), Southern Missouri Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMBC#NASDAQ">SMBC</a>), QCR Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) and Enterprise Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBTC#NASDAQ">EBTC</a>) are slated for closer inspection by regulators.
<h3 class="wp-block-heading">Market Reactions</h3>
Despite the regulatory cloud hanging over these institutions, the broader regional bank industry, as monitored by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), witnessed a 2.4% uptick on Thursday. 
This surge is attributed to a confluence of factors, including some positive news derived from the latest 13F filings and the market anticipation of Federal Reserve rate cuts prompted by <a href="https://www.benzinga.com/markets/equities/24/02/37156844/retail-sales-sink-in-january-manufacturing-indicators-improve-jobless-claims-fall-thursdays-econ">disappointing retail sales data.</a>
A couple of renowned fund managers added exposure to New York Community Bancorp in the fourth quarter of 2023. Notable among them is Soros Fund Management, which escalated its stake to 1,476,180 shares, valued at $15 million by the quarter&#8217;s end. Similarly, AQR Capital Management and Millennium Management substantially increased their holdings in New York Community Bancorp. 
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37139816/2008-big-short-oracle-burry-bets-big-on-chinese-giants-backs-google-amazons-ai-wave">2008 &#8216;Big Short&#8217; Oracle Burry Bets Big On Chinese Giants, Backs Google, Amazon&#8217;s AI Wave</a>

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Banks With High Commercial Real Estate Loan Exposure In Regulatory Spotlight: Valley National Bancorp And 15 Others To Watch

Wedbush analyst David Chiaverini maintains HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) with a Neutral and raises the price target from $15 to $16.

Wedbush Maintains Neutral on HomeStreet, Raises Price Target to $16

HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) reported its Q4 earnings results on Monday, January 29, 2024 at 04:01 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
HomeStreet missed estimated earnings by 700.0%, reporting an EPS of $-0.12 versus an estimate of $0.02.
Revenue was down $19.42 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.07 which was followed by a 5.69% increase in the share price the next day.
Here's a look at HomeStreet's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.05</td>
<td>0.19</td>
<td>0.40</td>
<td>0.75</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.12</td>
<td>0.17</td>
<td>0.27</td>
<td>0.45</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>52.92M</td>
<td>56.63M</td>
<td>63.24M</td>
<td>69.43M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>49.38M</td>
<td>53.79M</td>
<td>59.57M</td>
<td>65.36M</td>
</tr>
</tbody>
</table>

To track all earnings releases for HomeStreet <a href="https://www.benzinga.com/quote/HMST/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: HomeStreet Q4 Earnings

HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) reported quarterly losses of $(0.12) per share which missed the analyst consensus estimate of $0.02 by 700 percent. This is a 126.67 percent decrease over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $45.95 million which missed the analyst consensus estimate of $49.71 million by 7.57 percent. This is a 29.71 percent decrease over sales of $65.36 million the same period last year.

HomeStreet Q4 Adj EPS $(0.12) Misses $0.02 Estimate, Sales $45.95M Miss $49.71M Estimate

In a report released today, Wood Lay from KBW maintained a Hold rating on HomeStreet (HMST – Research Report), with a price target of $14.00. The c...

KBW Keeps Their Hold Rating on HomeStreet (HMST)

Truxton: A High-Quality And Overlooked Financial Firm

HomeStreet (HMST) announced that the bank entered into an agreement to sell to Bank of America (BAC), on a servicing retained basis, $990M of multi...

HomeStreet to sell $990M in commercial real estate loans to Bank of America

HomeStreet sells $990M of commercial property loans to Bank of America

Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER – Arena Group&nbsp;(AREN) up 14% after the company's plan ...

Morning Movers: Arena climbs after NYSE acceptance of plan to regain compliance

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.&nbsp; 1. STOCK NEWS: Netflix (NFLX) says Christmas NF...

Netflix draws big viewership for NFL Christmas games: Morning Buzz

In a report released today, Matthew Clark from Piper Sandler maintained a Hold rating on HomeStreet (HMST – Research Report), with a price target o...

HomeStreet (HMST) Receives a Hold from Piper Sandler

Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Bancorp (TBBK – Research Report), Nu Holdings (NU –...

Analysts Have Conflicting Sentiments on These Financial Companies: Bancorp (TBBK), Nu Holdings (NU) and HomeStreet (HMST)

HomeStreet (HMST) announced the closings of the previously announced sale by the Bank, on a servicing retained basis, of $990M of multifamily comme...

HomeStreet closes sale of $990M in multi-family loans

HomeStreet ( ($HMST) ) just unveiled an update. HomeStreet Bank, a subsidiary of HomeStreet, Inc., completed the sale of $990 million in multifamil...

HomeStreet Sells $990 Million in Real Estate Loans

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Press Releases

PRESSING INVESTIGATION: The M&A Class Action Firm Investigates Merger and Imminent Vote on June 18, 2024, of HomeStreet, Inc. - HMST

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