HomeStreet, Inc. (HMST) Expected to Announce Quarterly Sales of $143.41 Million
Brokerages expect that HomeStreet, Inc. (NASDAQ:HMST) will post $143.41 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for HomeStreet’s earnings, with estimates ranging from $136.00 million to $148.10 million. HomeStreet reported sales of $146.96 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The company is expected to announce its next earnings report after the market closes on Monday, July 24th.
According to Zacks, analysts expect that HomeStreet will report full-year sales of $143.41 million for the current financial year, with estimates ranging from $554.62 million to $571.00 million. For the next year, analysts forecast that the company will post sales of $616.82 million per share, with estimates ranging from $600.28 million to $641.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover HomeStreet.
HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, April 24th. The financial services provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. The firm had revenue of $120.11 million during the quarter, compared to analysts’ expectations of $124.18 million. HomeStreet had a return on equity of 10.26% and a net margin of 10.46%. During the same quarter in the prior year, the business earned $0.41 EPS.
A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $31.00 target price on shares of HomeStreet in a report on Friday, July 14th. Zacks Investment Research lowered HomeStreet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, FIG Partners lowered HomeStreet from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.25.
HomeStreet (NASDAQ:HMST) traded up 1.11% during trading on Thursday, reaching $27.30. The company’s stock had a trading volume of 27,149 shares. HomeStreet has a 52-week low of $21.01 and a 52-week high of $33.70. The stock’s 50-day moving average is $27.66 and its 200 day moving average is $27.38. The firm has a market capitalization of $788.01 million, a price-to-earnings ratio of 11.55 and a beta of 0.07.
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In other HomeStreet news, EVP William Endresen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $27.38, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.59% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its stake in HomeStreet by 6.8% in the second quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the financial services provider’s stock worth $304,000 after buying an additional 700 shares during the period. State of Alaska Department of Revenue raised its stake in shares of 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. Fisher Asset Management LLC raised its stake in shares of HomeStreet by 28.8% in the second quarter. Fisher Asset Management LLC now owns 86,551 shares of the financial services provider’s stock valued at $2,395,000 after buying an additional 19,364 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of HomeStreet by 14.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 17,778 shares of the financial services provider’s stock valued at $497,000 after buying an additional 2,206 shares during the last quarter. Finally, State Street Corp raised its stake in shares of HomeStreet by 13.6% in the first quarter. State Street Corp now owns 549,803 shares of the financial services provider’s stock valued at $15,366,000 after buying an additional 66,021 shares during the last quarter. 82.63% of the stock is currently owned by hedge funds and other institutional investors.
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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