FY2017 EPS Estimates for HomeStreet, Inc. (HMST) Decreased by Analyst
HomeStreet, Inc. (NASDAQ:HMST) – Research analysts at FBR & Co reduced their FY2017 earnings estimates for shares of HomeStreet in a research note issued to investors on Tuesday. FBR & Co analyst J. Levi-Ribner now expects that the financial services provider will post earnings per share of $1.61 for the year, down from their prior forecast of $1.75.
Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded HomeStreet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. FIG Partners downgraded HomeStreet from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $31.00 price target on shares of HomeStreet in a research note on Friday, June 2nd. Finally, BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, three have issued 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.
Shares of HomeStreet (NASDAQ HMST) remained flat at $26.25 on Wednesday. The company had a trading volume of 49,673 shares. The company’s 50-day moving average is $27.68 and its 200 day moving average is $27.29. HomeStreet has a 12 month low of $21.66 and a 12 month high of $33.70. The stock has a market capitalization of $757.71 million, a PE ratio of 11.10 and a beta of 0.07.
HomeStreet (NASDAQ:HMST) last issued its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by $0.18. HomeStreet had a return on equity of 8.22% and a net margin of 8.89%. The firm had revenue of $127.88 million during the quarter, compared to analysts’ expectations of $143.41 million. During the same period in the previous year, the firm earned $0.90 EPS.
In other news, EVP William Endresen sold 1,000 shares of HomeStreet stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $27.38, for a total transaction of $27,380.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. Insiders own 7.59% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased 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 valued at $88,945,000 after buying an additional 3,159,330 shares during the period. Dimensional Fund Advisors LP increased 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 valued at $55,179,000 after buying an additional 370,079 shares during the period. Victory Capital Management Inc. purchased a new position in HomeStreet during the first quarter valued at about $10,313,000. Mendon Capital Advisors Corp bought a new stake in HomeStreet during the first quarter worth approximately $7,342,000. Finally, RMB Capital Management LLC bought a new stake in HomeStreet during the first quarter worth approximately $3,861,000. 82.52% of the stock is owned by institutional investors and hedge funds.
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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