DA Davidson Analysts Cut Earnings Estimates for HomeStreet, Inc. (HMST)
HomeStreet, Inc. (NASDAQ:HMST) – DA Davidson cut their Q3 2017 earnings per share (EPS) estimates for HomeStreet in a report issued on Tuesday. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings of $0.42 per share for the quarter, down from their prior estimate of $0.46. DA Davidson also issued estimates for HomeStreet’s Q4 2017 earnings at $0.54 EPS, Q2 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.55 EPS, FY2018 earnings at $2.00 EPS and FY2019 earnings at $2.20 EPS.
HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.18). HomeStreet had a net margin of 8.89% and a return on equity of 8.10%. The business had revenue of $127.88 million during the quarter, compared to the consensus estimate of $143.41 million. During the same quarter in the prior year, the company earned $0.90 EPS.
Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $31.00 price objective on shares of HomeStreet in a report on Friday, July 14th. BidaskClub upgraded shares of HomeStreet from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. FBR & Co reissued a “hold” rating on shares of HomeStreet in a research report on Tuesday. ValuEngine upgraded HomeStreet from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, FIG Partners restated a “market perform” rating and set a $26.25 price target (down from $29.25) on shares of HomeStreet in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given 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 $29.56.
HomeStreet (HMST) opened at 28.10 on Wednesday. HomeStreet has a 12-month low of $24.00 and a 12-month high of $33.70. The company’s 50 day moving average price is $25.43 and its 200-day moving average price is $26.65. The firm has a market capitalization of $755.44 million, a price-to-earnings ratio of 14.60 and a beta of 0.06.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in HomeStreet by 13,720.1% during the 1st quarter. BlackRock Inc. now owns 3,182,357 shares of the financial services provider’s stock worth $88,945,000 after acquiring an additional 3,159,330 shares during the period. Victory Capital Management Inc. lifted its holdings in HomeStreet by 120.1% during the second quarter. Victory Capital Management Inc. now owns 812,090 shares of the financial services provider’s stock valued at $22,475,000 after purchasing an additional 443,105 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in HomeStreet by 23.1% during 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 purchasing an additional 370,079 shares in the last quarter. Boston Partners bought a new position in shares of HomeStreet in the second quarter worth approximately $7,458,000. Finally, Mendon Capital Advisors Corp bought a new position in shares of HomeStreet in the first quarter worth approximately $7,342,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.
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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