HomeStreet Inc (HMST) Expected to Post Earnings of $0.53 Per Share

Brokerages expect HomeStreet Inc (NASDAQ:HMST) to announce $0.53 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for HomeStreet’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.58. HomeStreet reported earnings of $0.33 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 60.6%. The business is expected to issue its next earnings results after the market closes on Monday, April 23rd.

On average, analysts expect that HomeStreet will report full year earnings of $2.38 per share for the current financial year, with EPS estimates ranging from $2.35 to $2.45. For the next year, analysts anticipate that the firm will post earnings of $2.66 per share, with EPS estimates ranging from $2.40 to $2.98. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow HomeStreet.

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HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). HomeStreet had a return on equity of 7.26% and a net margin of 12.54%. The company had revenue of $123.88 million during the quarter, compared to the consensus estimate of $127.13 million. During the same period in the previous year, the company earned $0.09 earnings per share.

A number of equities analysts recently issued reports on the stock. B. Riley reissued a “neutral” rating on shares of HomeStreet in a research note on Friday, March 2nd. Sandler O’Neill set a $31.00 price target on shares of HomeStreet and gave the stock a “hold” rating in a research note on Thursday. BidaskClub raised shares of HomeStreet from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. ValuEngine upgraded shares of HomeStreet from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Finally, DA Davidson upped their price objective on shares of HomeStreet to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.75.

In other HomeStreet news, EVP Mary L. Vincent sold 1,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $30.85, for a total value of $30,850.00. Following the sale, the executive vice president now owns 13,588 shares in the company, valued at $419,189.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Godfrey B. Evans sold 965 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $29.66, for a total transaction of $28,621.90. Following the completion of the sale, the executive vice president now owns 23,783 shares in the company, valued at approximately $705,403.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,414 shares of company stock worth $426,792. Corporate insiders own 1.64% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Elkfork Partners LLC purchased a new stake in HomeStreet in the fourth quarter worth about $129,000. MetLife Investment Advisors LLC purchased a new stake in shares of HomeStreet during the fourth quarter valued at approximately $358,000. Lyon Street Capital LLC grew its holdings in shares of HomeStreet by 35.4% during the fourth quarter. Lyon Street Capital LLC now owns 78,799 shares of the financial services provider’s stock valued at $2,281,000 after buying an additional 20,599 shares during the last quarter. Millennium Management LLC grew its holdings in shares of HomeStreet by 12.2% during the fourth quarter. Millennium Management LLC now owns 909,109 shares of the financial services provider’s stock valued at $26,319,000 after buying an additional 98,887 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of HomeStreet by 6.9% during the fourth quarter. Teachers Advisors LLC now owns 61,613 shares of the financial services provider’s stock valued at $1,784,000 after buying an additional 3,977 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

HMST stock traded down $0.40 during trading on Wednesday, reaching $28.65. The company had a trading volume of 332,586 shares, compared to its average volume of 140,753. HomeStreet has a 52 week low of $24.00 and a 52 week high of $32.60. The company has a market cap of $770.46, a P/E ratio of 17.05, a PEG ratio of 1.20 and a beta of 0.28. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.05 and a quick ratio of 0.93.

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HomeStreet Company Profile

HomeStreet, Inc is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. The Company’s operating segments include Commercial and Consumer Banking, and Mortgage Banking.

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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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