HomeStreet Inc (HMST) Expected to Post Q3 2018 Earnings of $0.41 Per Share

HomeStreet Inc (NASDAQ:HMST) – Equities researchers at B. Riley cut their Q3 2018 earnings per share (EPS) estimates for HomeStreet in a report released on Monday, October 15th. B. Riley analyst S. Moss now forecasts that the financial services provider will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.61. B. Riley currently has a “Buy” rating and a $36.00 target price on the stock. B. Riley also issued estimates for HomeStreet’s Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.47 EPS, Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.80 EPS, Q4 2019 earnings at $0.61 EPS and FY2019 earnings at $2.25 EPS.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded shares of HomeStreet from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. ValuEngine cut shares of HomeStreet from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Finally, FIG Partners set a $30.00 target price on shares of HomeStreet and gave the stock a “hold” rating in a research report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $31.14.

Shares of NASDAQ:HMST opened at $26.18 on Wednesday. The firm has a market capitalization of $714.89 million, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.65 and a beta of 0.33. HomeStreet has a 52 week low of $24.50 and a 52 week high of $32.60. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.96 and a current ratio of 1.06.

HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, July 23rd. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $120.39 million for the quarter, compared to analysts’ expectations of $119.61 million. HomeStreet had a net margin of 11.40% and a return on equity of 6.66%. During the same quarter last year, the company earned $0.42 EPS.

In related news, EVP Mary L. Vincent sold 8,459 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $29.57, for a total transaction of $250,132.63. Following the transaction, the executive vice president now owns 14,123 shares in the company, valued at $417,617.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Schultz sold 11,644 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $29.48, for a total transaction of $343,265.12. The disclosure for this sale can be found here. 1.64% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. increased its position in shares of HomeStreet by 438.1% during the first quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock valued at $125,000 after buying an additional 3,566 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of HomeStreet during the second quarter valued at about $172,000. FNY Investment Advisers LLC purchased a new position in shares of HomeStreet during the second quarter valued at about $175,000. Pinnacle Associates Ltd. bought a new stake in HomeStreet during the second quarter worth about $205,000. Finally, Alpine Woods Capital Investors LLC bought a new stake in HomeStreet during the second quarter worth about $218,000. Institutional investors own 81.25% of the company’s stock.

HomeStreet Company Profile

HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.

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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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