Brokerages predict that HomeStreet Inc (NASDAQ:HMST) will report sales of $64.33 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for HomeStreet’s earnings. The highest sales estimate is $67.40 million and the lowest is $58.78 million. HomeStreet posted sales of $109.75 million in the same quarter last year, which suggests a negative year-over-year growth rate of 41.4%. The company is scheduled to report its next earnings results on Monday, October 28th.
On average, analysts expect that HomeStreet will report full-year sales of $250.14 million for the current fiscal year, with estimates ranging from $232.03 million to $262.69 million. For the next financial year, analysts anticipate that the business will report sales of $255.68 million, with estimates ranging from $248.34 million to $260.39 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow HomeStreet.
HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.41). The company had revenue of $69.02 million during the quarter, compared to analysts’ expectations of $65.59 million. HomeStreet had a net margin of 4.74% and a return on equity of 4.74%. During the same quarter in the previous year, the company earned $0.46 earnings per share.
Several analysts have issued reports on HMST shares. DA Davidson upgraded HomeStreet from an “underperform” rating to a “neutral” rating and set a $27.00 target price for the company in a report on Friday, August 16th. Zacks Investment Research cut HomeStreet from a “buy” rating to a “hold” rating in a report on Wednesday. TheStreet cut HomeStreet from a “b” rating to a “c+” rating in a report on Monday, August 12th. Finally, BidaskClub cut HomeStreet from a “hold” rating to a “sell” rating in a report on Saturday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. HomeStreet currently has a consensus rating of “Hold” and a consensus price target of $31.50.
NASDAQ:HMST traded up $0.27 during trading hours on Tuesday, hitting $28.73. The company had a trading volume of 98,251 shares, compared to its average volume of 174,754. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $27.05 and a 200 day moving average of $28.04. The company has a market cap of $694.35 million, a P/E ratio of 19.41 and a beta of 0.68. HomeStreet has a 1 year low of $20.50 and a 1 year high of $31.96.
In related news, EVP Godfrey B. Evans bought 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $28.48 per share, for a total transaction of $28,480.00. Following the acquisition, the executive vice president now directly owns 46,432 shares in the company, valued at $1,322,383.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.64% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of HomeStreet by 0.8% during the 1st quarter. Rhumbline Advisers now owns 77,125 shares of the financial services provider’s stock worth $2,032,000 after purchasing an additional 646 shares during the period. Prudential Financial Inc. grew its holdings in shares of HomeStreet by 1.5% during the 2nd quarter. Prudential Financial Inc. now owns 44,280 shares of the financial services provider’s stock worth $1,312,000 after purchasing an additional 650 shares during the period. Texas Permanent School Fund grew its holdings in shares of HomeStreet by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 18,329 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 666 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of HomeStreet by 7.7% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 9,357 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 670 shares during the period. Finally, Comerica Bank grew its holdings in shares of HomeStreet by 2.7% during the 1st quarter. Comerica Bank now owns 26,632 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 692 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.
HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.
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