Zacks: Brokerages Anticipate HomeStreet, Inc. (HMST) Will Announce Earnings of $0.44 Per Share
Equities analysts expect HomeStreet, Inc. (NASDAQ:HMST) to announce $0.44 earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for HomeStreet’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.39. HomeStreet reported earnings per share of $1.12 in the same quarter last year, which indicates a negative year over year growth rate of 60.7%. The business is scheduled to announce its next quarterly earnings results on Monday, October 23rd.
According to Zacks, analysts expect that HomeStreet will report full-year earnings of $1.61 per share for the current financial year, with EPS estimates ranging from $1.51 to $1.70. For the next fiscal year, analysts expect that the company will report earnings of $2.10 per share, with EPS estimates ranging from $2.04 to $2.20. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover 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 Thomson Reuters’ consensus estimate of $0.60 by $0.18. The company had revenue of $127.88 million during the quarter, compared to the consensus estimate of $143.41 million. HomeStreet had a net margin of 8.89% and a return on equity of 8.10%. During the same period in the previous year, the company earned $0.90 earnings per share.
HMST has been the topic of a number of research analyst reports. FIG Partners downgraded shares of HomeStreet from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Zacks Investment Research downgraded shares of HomeStreet from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. 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. BidaskClub downgraded shares of HomeStreet from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, ValuEngine downgraded shares of HomeStreet from a “buy” rating to a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.45.
Shares of HomeStreet (HMST) traded down 0.58% during trading on Monday, hitting $25.90. 197,691 shares of the stock traded hands. The stock has a 50 day moving average price of $27.39 and a 200-day moving average price of $27.11. HomeStreet has a 1-year low of $22.52 and a 1-year high of $33.70. The stock has a market cap of $696.04 million, a price-to-earnings ratio of 13.46 and a beta of 0.05.
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In related news, EVP William Endresen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.38, for a total value of $27,380.00. Following the transaction, the executive vice president now directly 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 through this link. 7.59% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of HomeStreet by 30.6% in the fourth quarter. State Street Corp now owns 483,782 shares of the financial services provider’s stock worth $15,285,000 after buying an additional 113,477 shares during the period. Guggenheim Capital LLC purchased a new stake in shares of HomeStreet during the fourth quarter worth about $1,610,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of HomeStreet during the fourth quarter worth about $265,000. Teachers Advisors LLC boosted its stake in shares of HomeStreet by 23.9% in the fourth quarter. Teachers Advisors LLC now owns 50,825 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 9,812 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of HomeStreet by 9.6% in the first quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $288,000 after buying an additional 900 shares in the last quarter. 82.90% of the stock is currently owned by 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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