Equities analysts expect HomeStreet, Inc. (NASDAQ:HMST) to report sales of $131.31 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for HomeStreet’s earnings, with estimates ranging from $128.20 million to $134.78 million. HomeStreet reported sales of $158.55 million in the same quarter last year, which would suggest a negative year over year growth rate of 17.2%. The company is expected to issue its next earnings report on Monday, October 23rd.
On average, analysts expect that HomeStreet will report full-year sales of $131.31 million for the current fiscal year, with estimates ranging from $504.10 million to $513.77 million. For the next financial year, analysts forecast that the firm will report sales of $537.93 million per share, with estimates ranging from $518.10 million to $551.38 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for HomeStreet.
HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.18). The business had revenue of $127.88 million for the quarter, compared to analysts’ expectations of $143.41 million. HomeStreet had a net margin of 8.89% and a return on equity of 8.10%. During the same period in the previous year, the business posted $0.90 earnings per share.
A number of equities research analysts have weighed in on the stock. BidaskClub lowered shares of HomeStreet from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $31.00 target price on shares of HomeStreet in a research note on Friday, July 14th. ValuEngine lowered shares of HomeStreet from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. FIG Partners reiterated a “market perform” rating and set a $26.25 target price (down from $29.25) on shares of HomeStreet in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of HomeStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $29.56.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Interstate Bank increased its stake in shares of HomeStreet by 80.4% in the 1st quarter. First Interstate Bank now owns 3,915 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,745 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of HomeStreet in the 2nd quarter worth $117,000. State of Alaska Department of Revenue increased its stake in shares of HomeStreet by 90.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,321 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 2,531 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of HomeStreet by 15.5% in the 1st quarter. Mason Street Advisors LLC now owns 5,891 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 789 shares in the last quarter. Finally, Airain ltd purchased a new stake in shares of HomeStreet in the 1st quarter worth $211,000. Institutional investors and hedge funds own 83.89% of the company’s stock.
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Shares of HomeStreet (NASDAQ:HMST) traded up 1.99% during mid-day trading on Friday, hitting $25.60. The company had a trading volume of 395,456 shares. HomeStreet has a 52 week low of $24.00 and a 52 week high of $33.70. The firm has a market capitalization of $688.23 million, a PE ratio of 13.31 and a beta of 0.07. The firm has a 50-day moving average price of $25.29 and a 200-day moving average price of $26.69.
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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