Brokerages Expect HomeStreet Inc (HMST) Will Post Quarterly Sales of $122.85 Million

Analysts predict that HomeStreet Inc (NASDAQ:HMST) will report sales of $122.85 million for the current quarter, according to Zacks. Three analysts have made estimates for HomeStreet’s earnings, with the highest sales estimate coming in at $123.70 million and the lowest estimate coming in at $121.88 million. HomeStreet reported sales of $120.11 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The company is scheduled to issue its next earnings report on Monday, April 23rd.

On average, analysts expect that HomeStreet will report full year sales of $122.85 million for the current fiscal year, with estimates ranging from $511.20 million to $546.80 million. For the next financial year, analysts anticipate that the company will post sales of $551.64 million per share, with estimates ranging from $533.06 million to $578.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover HomeStreet.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). HomeStreet had a net margin of 12.54% and a return on equity of 7.26%. The company had revenue of $123.88 million during the quarter, compared to analysts’ expectations of $127.13 million. During the same period in the previous year, the company posted $0.09 earnings per share.

Several equities research analysts have recently issued reports on HMST shares. BidaskClub raised HomeStreet from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. FBR & Co reaffirmed a “hold” rating and set a $30.00 target price on shares of HomeStreet in a research report on Wednesday, October 25th. B. Riley reaffirmed a “hold” rating and set a $30.00 target price on shares of HomeStreet in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods lowered HomeStreet from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. Finally, DA Davidson raised their target price on HomeStreet to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.71.

In related news, EVP Godfrey B. Evans sold 965 shares of HomeStreet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $29.66, for a total value of $28,621.90. Following the completion of the sale, the executive vice president now owns 23,783 shares of the company’s stock, valued at approximately $705,403.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark K. Mason sold 6,934 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $29.53, for a total value of $204,761.02. Following the completion of the transaction, the chief executive officer now owns 131,293 shares of the company’s stock, valued at approximately $3,877,082.29. The disclosure for this sale can be found here. In the last three months, insiders sold 8,415 shares of company stock valued at $248,774. 1.64% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Interstate Bank boosted its stake in HomeStreet by 34.2% in the 3rd quarter. First Interstate Bank now owns 7,500 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 1,910 shares during the period. Crossmark Global Holdings Inc. bought a new position in HomeStreet in the 3rd quarter worth about $233,000. Teacher Retirement System of Texas bought a new position in HomeStreet in the 4th quarter worth about $256,000. LMR Partners LLP bought a new position in HomeStreet in the 3rd quarter worth about $242,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in HomeStreet in the 3rd quarter worth about $264,000. Institutional investors and hedge funds own 84.16% of the company’s stock.

Shares of HomeStreet (NASDAQ HMST) opened at $28.75 on Wednesday. HomeStreet has a 12-month low of $24.00 and a 12-month high of $32.60. The stock has a market capitalization of $765.08, a price-to-earnings ratio of 15.89, a PEG ratio of 1.19 and a beta of 0.26. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.93 and a current ratio of 1.05.

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About HomeStreet

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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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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