$0.44 EPS Expected for HomeStreet, Inc. (NASDAQ:HMST) This Quarter
Analysts predict that HomeStreet, Inc. (NASDAQ:HMST) will announce earnings per share (EPS) of $0.44 for the current quarter, Zacks reports. Three analysts have made estimates for HomeStreet’s earnings. The lowest EPS estimate is $0.39 and the highest is $0.48. HomeStreet reported earnings of $1.12 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 60.7%. The firm is scheduled to announce its next quarterly earnings results on Monday, October 23rd.
According to Zacks, analysts expect that HomeStreet will report full-year earnings of $1.61 per share for the current fiscal year, with EPS estimates ranging from $1.51 to $1.70. For the next year, analysts forecast that the company will post earnings of $2.10 per share, with EPS estimates ranging from $2.04 to $2.20. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow HomeStreet.
HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, July 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.18. HomeStreet had a return on equity of 8.10% and a net margin of 8.89%. The business had revenue of $127.88 million during the quarter, compared to the consensus estimate of $143.41 million. During the same period in the prior year, the business earned $0.90 EPS.
Several analysts have recently weighed in on HMST shares. FIG Partners lowered shares of HomeStreet from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. BidaskClub lowered shares of HomeStreet from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research lowered shares of HomeStreet from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $31.00 target price on shares of HomeStreet in a research report on Friday, June 2nd. Finally, ValuEngine lowered shares of HomeStreet from a “buy” rating to a “hold” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. HomeStreet currently has a consensus rating of “Hold” and an average price target of $29.45.
Shares of HomeStreet (NASDAQ HMST) traded down 0.58% during trading on Monday, reaching $25.90. 197,691 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $27.39 and a 200-day moving average price of $27.11. HomeStreet has a 52-week low of $22.52 and a 52-week high of $33.70. The company has a market capitalization of $696.04 million, a PE ratio of 13.46 and a beta of 0.05.
In other HomeStreet news, EVP William Endresen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.38, for a total value of $27,380.00. Following the transaction, the executive vice president now directly owns 1,170 shares in the company, valued at $32,034.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.59% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in HomeStreet by 13,720.1% in the first quarter. BlackRock Inc. now owns 3,182,357 shares of the financial services provider’s stock worth $88,945,000 after buying an additional 3,159,330 shares during the period. Victory Capital Management Inc. raised its position in HomeStreet by 120.1% in the second quarter. Victory Capital Management Inc. now owns 812,090 shares of the financial services provider’s stock worth $22,475,000 after buying an additional 443,105 shares during the period. Dimensional Fund Advisors LP raised its position in HomeStreet by 23.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,974,193 shares of the financial services provider’s stock worth $55,179,000 after buying an additional 370,079 shares during the period. Boston Partners purchased a new position in HomeStreet during the second quarter worth approximately $7,458,000. Finally, Mendon Capital Advisors Corp purchased a new position in HomeStreet during the first quarter worth approximately $7,342,000. Hedge funds and other institutional investors own 82.90% of the company’s stock.
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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