HomeStreet Inc (NASDAQ:HMST) Expected to Announce Earnings of $0.38 Per Share

Wall Street analysts expect HomeStreet Inc (NASDAQ:HMST) to announce earnings per share (EPS) of $0.38 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for HomeStreet’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.28. HomeStreet reported earnings per share of $0.13 during the same quarter last year, which indicates a positive year-over-year growth rate of 192.3%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, July 30th.

On average, analysts expect that HomeStreet will report full-year earnings of $1.61 per share for the current fiscal year, with EPS estimates ranging from $1.48 to $1.75. For the next fiscal year, analysts anticipate that the company will post earnings of $2.02 per share, with EPS estimates ranging from $1.45 to $2.40. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for HomeStreet.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. HomeStreet had a net margin of 7.09% and a return on equity of 5.88%. The firm had revenue of $78.06 million for the quarter, compared to analyst estimates of $63.57 million.

Several brokerages have recently issued reports on HMST. DA Davidson raised shares of HomeStreet from a “neutral” rating to a “buy” rating and reduced their target price for the company from $29.00 to $27.00 in a research note on Monday, March 16th. Wedbush began coverage on shares of HomeStreet in a research note on Wednesday, June 24th. They issued a “neutral” rating and a $28.00 target price on the stock. They noted that the move was a valuation call. B. Riley reduced their target price on shares of HomeStreet from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. BidaskClub lowered shares of HomeStreet from a “hold” rating to a “sell” rating in a research note on Thursday, June 25th. Finally, Zacks Investment Research raised shares of HomeStreet from a “sell” rating to a “hold” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. HomeStreet has a consensus rating of “Hold” and a consensus target price of $29.67.

Shares of NASDAQ HMST opened at $24.61 on Wednesday. The firm has a market capitalization of $562.67 million, a PE ratio of 22.79 and a beta of 1.01. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. HomeStreet has a 1 year low of $18.44 and a 1 year high of $35.44. The firm’s 50-day moving average is $23.47 and its 200-day moving average is $27.01.

In other HomeStreet news, EVP Godfrey B. Evans sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $26.66, for a total transaction of $61,877.86. Following the sale, the executive vice president now directly owns 46,127 shares in the company, valued at approximately $1,229,745.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Robert Patterson bought 3,424 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were bought at an average price of $22.96 per share, for a total transaction of $78,615.04. Following the completion of the acquisition, the director now directly owns 8,253 shares in the company, valued at approximately $189,488.88. The disclosure for this purchase can be found here. 3.62% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in HomeStreet by 33.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the financial services provider’s stock worth $46,000 after buying an additional 335 shares during the period. Point72 Hong Kong Ltd acquired a new stake in HomeStreet during the 4th quarter worth approximately $60,000. Advisor Group Holdings Inc. acquired a new stake in HomeStreet during the 1st quarter worth approximately $63,000. Nisa Investment Advisors LLC acquired a new stake in HomeStreet during the 1st quarter worth approximately $65,000. Finally, SG Americas Securities LLC raised its holdings in HomeStreet by 23.1% during the 1st quarter. SG Americas Securities LLC now owns 7,326 shares of the financial services provider’s stock worth $163,000 after buying an additional 1,376 shares during the period. Hedge funds and other institutional investors own 84.73% of the company’s stock.

About HomeStreet

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.

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