HomeStreet Inc Expected to Post Q1 2018 Earnings of $0.35 Per Share (HMST)
HomeStreet Inc (NASDAQ:HMST) – Investment analysts at FBR & Co lifted their Q1 2018 EPS estimates for 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 of $0.35 per share for the quarter, up from their previous estimate of $0.30. FBR & Co currently has a “Hold” rating on the stock. FBR & Co also issued estimates for HomeStreet’s Q2 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.60 EPS and FY2018 earnings at $2.15 EPS.
HomeStreet (NASDAQ:HMST) last announced its earnings results on Monday, July 24th. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.18). The company had revenue of $127.88 million for the quarter, compared to analysts’ expectations of $143.41 million. HomeStreet had a net margin of 8.77% and a return on equity of 6.93%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. TRADEMARK VIOLATION WARNING: This piece was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/12/homestreet-inc-expected-to-post-q1-2018-earnings-of-0-35-per-share-hmst.html.
A number of other research analysts also recently issued reports on HMST. Zacks Investment Research downgraded shares of HomeStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. BidaskClub upgraded shares of HomeStreet from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods restated a “buy” rating and set a $31.00 target price on shares of HomeStreet in a research report on Friday, July 14th. ValuEngine downgraded shares of HomeStreet from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, FIG Partners restated a “market perform” rating and set a $26.25 target price (down from $29.25) on shares of HomeStreet in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. HomeStreet currently has a consensus rating of “Hold” and an average price target of $29.08.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in HomeStreet during the second quarter valued at $117,000. State of Alaska Department of Revenue lifted its position in HomeStreet by 90.7% during the second quarter. State of Alaska Department of Revenue now owns 5,321 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 2,531 shares during the period. First Interstate Bank lifted its position in HomeStreet by 42.8% during the second quarter. First Interstate Bank now owns 5,590 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,675 shares during the period. Mason Street Advisors LLC lifted its position in HomeStreet by 15.5% during the first quarter. Mason Street Advisors LLC now owns 5,891 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 789 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in HomeStreet by 90.9% during the second quarter. BNP Paribas Arbitrage SA now owns 8,483 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 4,040 shares during the period. Institutional investors own 83.89% of the company’s stock.
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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