Brokerages expect HomeStreet, Inc. (NASDAQ:HMST) to report sales of $131.31 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for HomeStreet’s earnings, with estimates ranging from $128.20 million to $134.78 million. HomeStreet posted sales of $158.55 million in the same quarter last year, which suggests a negative year-over-year growth rate of 17.2%. The firm is scheduled to issue its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that HomeStreet will report full-year sales of $131.31 million for the current year, with estimates ranging from $504.10 million to $513.77 million. For the next financial year, analysts forecast that the company will report sales of $537.93 million per share, with estimates ranging from $518.10 million to $551.38 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for HomeStreet.
HomeStreet (NASDAQ:HMST) last issued its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.42 earnings per share for the quarter, missing the 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 firm earned $0.90 EPS.
A number of brokerages recently commented on HMST. Zacks Investment Research cut shares of HomeStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. BidaskClub raised shares of HomeStreet from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $31.00 price target on shares of HomeStreet in a report on Friday, June 2nd. ValuEngine lowered shares of HomeStreet from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, FIG Partners reissued a “market perform” rating and issued a $26.25 price target (down previously from $29.25) on shares of HomeStreet in a report on Thursday, July 27th. Two investment 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. The stock currently has an average rating of “Hold” and an average price target of $29.45.
Shares of HomeStreet (NASDAQ HMST) opened at 25.80 on Wednesday. The company has a 50 day moving average of $27.20 and a 200 day moving average of $27.09. The company has a market cap of $693.35 million, a PE ratio of 13.41 and a beta of 0.05. HomeStreet has a 52 week low of $22.56 and a 52 week high of $33.70.
In other news, EVP William Endresen sold 1,000 shares of HomeStreet stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.38, for a total transaction of $27,380.00. Following the sale, the executive vice president now owns 1,170 shares of the company’s stock, valued at approximately $32,034.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.59% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. First Interstate Bank raised its stake in HomeStreet by 80.4% in the first quarter. First Interstate Bank now owns 3,915 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,745 shares during the last quarter. SG Americas Securities LLC acquired a new stake in HomeStreet during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue raised its stake in HomeStreet by 90.7% in the second quarter. State of Alaska Department of Revenue now owns 5,321 shares of the financial services provider’s stock valued at $147,000 after buying an additional 2,531 shares during the last quarter. Mason Street Advisors LLC raised its stake in HomeStreet by 15.5% in the first quarter. Mason Street Advisors LLC now owns 5,891 shares of the financial services provider’s stock valued at $165,000 after buying an additional 789 shares during the last quarter. Finally, Airain ltd acquired a new stake in HomeStreet during the first quarter valued at approximately $211,000. 82.90% of the stock is currently owned by hedge funds and other institutional investors.
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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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