Brokerages Anticipate HomeStreet Inc (HMST) Will Post Quarterly Sales of $122.85 Million

Wall Street analysts forecast that HomeStreet Inc (NASDAQ:HMST) will report sales of $122.85 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for HomeStreet’s earnings, with estimates ranging from $121.88 million to $123.70 million. HomeStreet reported sales of $120.11 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The company is expected to issue its next earnings results after the market closes on Monday, April 23rd.

According to Zacks, analysts expect that HomeStreet will report full year sales of $122.85 million for the current fiscal year, with estimates ranging from $511.20 million to $546.80 million. For the next year, analysts expect that the business will report sales of $551.64 million per share, with estimates ranging from $533.06 million to $578.30 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow HomeStreet.

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

A number of research firms have recently issued reports on HMST. Zacks Investment Research lowered shares of HomeStreet from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. BidaskClub lowered shares of HomeStreet from a “buy” rating to a “hold” rating in a report on Wednesday, January 24th. DA Davidson upped their target price on shares of HomeStreet to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Sandler O’Neill set a $31.00 target price on shares of HomeStreet and gave the stock a “hold” rating in a report on Thursday. Finally, B. Riley reaffirmed a “hold” rating and set a $30.00 target price on shares of HomeStreet in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.75.

In related 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 completion of the sale, the executive vice president now owns 13,588 shares of the company’s stock, valued at $419,189.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark K. Mason sold 2,208 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $28.52, for a total transaction of $62,972.16. Following the completion of the sale, the chief executive officer now directly owns 136,580 shares of the company’s stock, valued at approximately $3,895,261.60. The disclosure for this sale can be found here. Insiders have sold 14,414 shares of company stock valued at $426,792 in the last ninety days. Insiders own 1.64% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in HMST. Crossmark Global Holdings Inc. purchased a new stake in shares of HomeStreet in the third quarter valued at about $233,000. Prudential Financial Inc. grew its holdings in shares of HomeStreet by 2.4% in the third quarter. Prudential Financial Inc. now owns 91,850 shares of the financial services provider’s stock valued at $2,480,000 after purchasing an additional 2,140 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of HomeStreet by 59.3% in the third quarter. BNP Paribas Arbitrage SA now owns 13,515 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 5,032 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in shares of HomeStreet by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,180 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 3,770 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of HomeStreet by 67.0% in the third quarter. Russell Investments Group Ltd. now owns 169,916 shares of the financial services provider’s stock valued at $4,587,000 after purchasing an additional 68,173 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Shares of HomeStreet stock traded down $0.55 during trading hours on Friday, reaching $28.10. 104,733 shares of the company’s stock were exchanged, compared to its average volume of 173,622. HomeStreet has a 1 year low of $24.00 and a 1 year high of $32.60. The firm has a market capitalization of $770.46, a price-to-earnings ratio of 16.82, a PEG ratio of 1.20 and a beta of 0.34. The company has a quick ratio of 0.93, a current ratio of 1.05 and a debt-to-equity ratio of 1.57.

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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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