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HomeStreet (HMST) Soars 38.1%: Is Further Upside Left in the Stock?
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HomeStreet (HMST - Free Report) shares ended the last trading session 38.1% higher at $14.87. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12% gain over the past four weeks.
The merger between HomeStreet, Inc. and FirstSun Capital Bancorp was announced on Jan 16, 2024. The deal is expected to close in the middle of 2024, subject to the receipt of regulatory approvals and shareholder approval from both the companies. Per the terms of the transaction, shareholders of HomeStreet would receive 0.4345 shares of common stock of FirstSun in exchange of each of their share. The recent developments seem to have cheered investors, driving the HomeStreet, Inc. stock higher.
This real estate lender is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -93.3%. Revenues are expected to be $49.73 million, down 23.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For HomeStreet, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HMST going forward to see if this recent jump can turn into more strength down the road.
HomeStreet belongs to the Zacks Financial - Savings and Loan industry. Another stock from the same industry, BankFinancial (BFIN - Free Report) , closed the last trading session 1.6% higher at $10.55. Over the past month, BFIN has returned 3.2%.
For BankFinancial, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of -22.2% from what the company reported a year ago. BankFinancial currently has a Zacks Rank of #4 (Sell).
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HomeStreet (HMST) Soars 38.1%: Is Further Upside Left in the Stock?
HomeStreet (HMST - Free Report) shares ended the last trading session 38.1% higher at $14.87. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12% gain over the past four weeks.
The merger between HomeStreet, Inc. and FirstSun Capital Bancorp was announced on Jan 16, 2024. The deal is expected to close in the middle of 2024, subject to the receipt of regulatory approvals and shareholder approval from both the companies. Per the terms of the transaction, shareholders of HomeStreet would receive 0.4345 shares of common stock of FirstSun in exchange of each of their share. The recent developments seem to have cheered investors, driving the HomeStreet, Inc. stock higher.
This real estate lender is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -93.3%. Revenues are expected to be $49.73 million, down 23.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For HomeStreet, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HMST going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
HomeStreet belongs to the Zacks Financial - Savings and Loan industry. Another stock from the same industry, BankFinancial (BFIN - Free Report) , closed the last trading session 1.6% higher at $10.55. Over the past month, BFIN has returned 3.2%.
For BankFinancial, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of -22.2% from what the company reported a year ago. BankFinancial currently has a Zacks Rank of #4 (Sell).