Analysts Expect HomeStreet Inc (HMST) Will Post Earnings of $0.53 Per Share

Analysts predict that HomeStreet Inc (NASDAQ:HMST) will post earnings per share of $0.53 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for HomeStreet’s earnings. The highest EPS estimate is $0.57 and the lowest is $0.49. HomeStreet posted earnings per share of $0.46 during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.2%. The company is scheduled to report its next earnings results on Monday, July 22nd.

According to Zacks, analysts expect that HomeStreet will report full year earnings of $1.73 per share for the current year. For the next fiscal year, analysts forecast that the company will report earnings of $2.42 per share, with EPS estimates ranging from $2.14 to $2.70. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that follow HomeStreet.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05). The business had revenue of $55.65 million during the quarter, compared to the consensus estimate of $102.33 million. HomeStreet had a return on equity of 5.87% and a net margin of 7.02%. During the same period in the prior year, the firm earned $0.21 earnings per share.

HMST has been the topic of a number of research reports. Sandler O’Neill upgraded HomeStreet from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Friday, April 5th. BidaskClub upgraded HomeStreet from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised HomeStreet from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. FIG Partners lowered HomeStreet from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, May 1st. Finally, DA Davidson boosted their price target on HomeStreet to $32.00 and gave the company a “positive” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. HomeStreet has an average rating of “Buy” and a consensus target price of $30.40.

Shares of HMST traded up $0.45 on Friday, reaching $28.91. 1,699 shares of the stock traded hands, compared to its average volume of 171,656. The stock has a market cap of $780.19 million, a PE ratio of 19.52, a P/E/G ratio of 2.39 and a beta of 0.73. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.97. HomeStreet has a 12 month low of $20.50 and a 12 month high of $31.55.

In related news, CFO Mark R. Ruh purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $28.37 per share, with a total value of $56,740.00. Following the purchase, the chief financial officer now directly owns 6,617 shares in the company, valued at $187,724.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandra A. Cavanaugh purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average cost of $28.67 per share, for a total transaction of $143,350.00. Following the purchase, the director now owns 6,107 shares in the company, valued at $175,087.69. The disclosure for this purchase can be found here. 1.64% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of HMST. Cutler Group LP acquired a new position in HomeStreet in the first quarter worth $26,000. Bank of Montreal Can boosted its stake in HomeStreet by 110.5% in the fourth quarter. Bank of Montreal Can now owns 2,261 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,187 shares in the last quarter. Advisor Group Inc. acquired a new position in HomeStreet in the first quarter worth $66,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in HomeStreet by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,569 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,437 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in HomeStreet by 219.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,189 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 3,564 shares in the last quarter. 79.92% of the stock is currently owned by institutional investors.

About HomeStreet

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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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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