HomeStreet, Inc. (NASDAQ:HMST) Releases Quarterly Earnings Results, Misses Expectations By $0.18 EPS
HomeStreet, Inc. (NASDAQ:HMST) issued its quarterly earnings results on Monday. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.18, Bloomberg Earnings reports. HomeStreet had a return on equity of 10.26% and a net margin of 10.46%. During the same period in the previous year, the company earned $0.90 earnings per share.
Shares of HomeStreet (NASDAQ HMST) traded up 0.73% on Monday, reaching $27.70. The company had a trading volume of 166,943 shares. HomeStreet has a 1-year low of $21.01 and a 1-year high of $33.70. The stock has a market capitalization of $799.56 million, a P/E ratio of 11.72 and a beta of 0.07. The company’s 50 day moving average price is $27.68 and its 200-day moving average price is $27.38.
Several equities research analysts have recently weighed in on HMST shares. Zacks Investment Research downgraded HomeStreet from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. FIG Partners downgraded HomeStreet from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $31.00 price target on shares of HomeStreet in a report on Friday, June 2nd. Finally, BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.25.
In other news, EVP William Endresen sold 1,000 shares of HomeStreet stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.59% of the stock is currently owned by insiders.
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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