Wall Street brokerages predict that HomeStreet, Inc. (NASDAQ:HMST) will report $143.41 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for HomeStreet’s earnings, with the highest sales estimate coming in at $148.10 million and the lowest estimate coming in at $136.00 million. HomeStreet reported sales of $146.96 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.4%. The company is scheduled to report its next earnings results after the market closes on Monday, July 24th.
On average, analysts expect that HomeStreet will report full-year sales of $143.41 million for the current fiscal year, with estimates ranging from $554.62 million to $571.00 million. For the next financial year, analysts expect that the company will report sales of $616.82 million per share, with estimates ranging from $600.28 million to $641.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for HomeStreet.
HomeStreet (NASDAQ:HMST) last announced its quarterly earnings results on Monday, April 24th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.25 by $0.08. The business had revenue of $120.11 million for the quarter, compared to analysts’ expectations of $124.18 million. HomeStreet had a net margin of 10.46% and a return on equity of 10.26%. During the same quarter in the previous year, the company earned $0.41 EPS.
Several equities analysts have issued reports on HMST shares. Zacks Investment Research raised shares of HomeStreet from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 28th. FIG Partners downgraded shares of HomeStreet from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $31.00 price objective on shares of HomeStreet in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $30.25.
In other HomeStreet news, EVP William Endresen sold 1,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $27.38, for a total transaction of $27,380.00. Following the transaction, the executive vice president now directly owns 1,170 shares of the company’s stock, valued at $32,034.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.59% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank bought a new position in HomeStreet during the fourth quarter valued at about $722,000. State Street Corp increased its position in HomeStreet by 30.6% in the fourth quarter. State Street Corp now owns 483,782 shares of the financial services provider’s stock valued at $15,285,000 after buying an additional 113,477 shares during the last quarter. Federated Investors Inc. PA acquired a new position in HomeStreet during the fourth quarter valued at $272,000. Renaissance Technologies LLC increased its position in HomeStreet by 650.5% in the fourth quarter. Renaissance Technologies LLC now owns 303,200 shares of the financial services provider’s stock valued at $9,581,000 after buying an additional 262,800 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in HomeStreet by 443.2% in the fourth quarter. New York State Teachers Retirement System now owns 11,407 shares of the financial services provider’s stock valued at $360,000 after buying an additional 9,307 shares in the last quarter. 82.63% of the stock is currently owned by institutional investors and hedge funds.
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Shares of HomeStreet (NASDAQ:HMST) traded up 1.11% during mid-day trading on Thursday, reaching $27.30. 27,149 shares of the company’s stock traded hands. The company’s 50 day moving average is $27.66 and its 200 day moving average is $27.38. HomeStreet has a 12-month low of $21.01 and a 12-month high of $33.70. The company has a market cap of $788.01 million, a P/E ratio of 11.55 and a beta of 0.07.
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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