FBR & Co Comments on HomeStreet, Inc.’s Q3 2017 Earnings (NASDAQ:HMST)
HomeStreet, Inc. (NASDAQ:HMST) – Research analysts at FBR & Co issued their Q3 2017 earnings per share (EPS) estimates for HomeStreet in a research note issued on Tuesday. FBR & Co analyst J. Levi-Ribner expects that the financial services provider will post earnings of $0.48 per share for the quarter. FBR & Co also issued estimates for HomeStreet’s Q4 2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.69 EPS and Q4 2018 earnings at $0.61 EPS.
HomeStreet (NASDAQ:HMST) last released its earnings results 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 for the quarter, compared to the consensus estimate of $143.41 million. During the same quarter last year, the business posted $0.90 earnings per share.
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A number of other equities analysts have also recently weighed in on the company. FIG Partners reissued a “market perform” rating and issued a $26.25 price target (down from $29.25) on shares of HomeStreet in a report on Thursday. BidaskClub cut HomeStreet from a “hold” rating to a “sell” rating in a report on Monday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $31.00 price target on shares of HomeStreet in a report on Friday, July 14th. Finally, Zacks Investment Research cut HomeStreet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.45.
Shares of HomeStreet (NASDAQ HMST) opened at 26.50 on Thursday. The company has a market capitalization of $764.92 million, a P/E ratio of 11.21 and a beta of 0.07. The stock’s 50 day moving average price is $27.62 and its 200 day moving average price is $27.25. HomeStreet has a 52-week low of $21.66 and a 52-week high of $33.70.
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 valued at $88,945,000 after buying an additional 3,159,330 shares during the last quarter. 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 valued at $55,179,000 after buying an additional 370,079 shares during the last quarter. Victory Capital Management Inc. acquired a new position in HomeStreet during the first quarter valued at approximately $10,313,000. Mendon Capital Advisors Corp acquired a new position in HomeStreet during the first quarter valued at approximately $7,342,000. Finally, RMB Capital Management LLC acquired a new position in HomeStreet during the first quarter valued at approximately $3,861,000. Hedge funds and other institutional investors own 82.52% of the company’s stock.
In related news, EVP William Endresen sold 1,000 shares of the company’s stock in a transaction 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.59% 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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