HomeStreet Inc (HMST) Expected to Announce Quarterly Sales of $102.57 Million

Equities research analysts predict that HomeStreet Inc (NASDAQ:HMST) will announce $102.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for HomeStreet’s earnings. The highest sales estimate is $104.82 million and the lowest is $98.68 million. HomeStreet reported sales of $109.29 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.1%. The firm is scheduled to report its next earnings results on Monday, April 22nd.

On average, analysts expect that HomeStreet will report full year sales of $447.38 million for the current fiscal year, with estimates ranging from $436.94 million to $460.50 million. For the next year, analysts anticipate that the firm will post sales of $473.18 million, with estimates ranging from $460.72 million to $487.70 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow HomeStreet.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Tuesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $103.76 million. HomeStreet had a net margin of 7.88% and a return on equity of 5.61%. During the same quarter in the prior year, the firm posted $0.42 EPS.

A number of equities analysts recently issued reports on the stock. BidaskClub lowered shares of HomeStreet from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Zacks Investment Research lowered HomeStreet from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. DA Davidson lowered their price target on HomeStreet to $26.00 and set a “neutral” rating for the company in a research report on Thursday, December 20th. Finally, B. Riley increased their price target on HomeStreet to $35.00 and gave the company a “buy” rating in a research report on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.17.

HMST traded up $0.18 on Monday, reaching $27.44. The company had a trading volume of 2,487 shares, compared to its average volume of 197,458. The firm has a market capitalization of $736.92 million, a PE ratio of 18.51, a P/E/G ratio of 1.92 and a beta of 0.73. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 1.43. HomeStreet has a one year low of $20.50 and a one year high of $31.55.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners boosted its stake in shares of HomeStreet by 66.4% in the fourth quarter. Boston Partners now owns 794,929 shares of the financial services provider’s stock worth $16,876,000 after acquiring an additional 317,139 shares during the period. Martingale Asset Management L P grew its holdings in HomeStreet by 475.7% during the 4th quarter. Martingale Asset Management L P now owns 146,257 shares of the financial services provider’s stock worth $3,106,000 after acquiring an additional 120,854 shares during the last quarter. BlackRock Inc. grew its holdings in HomeStreet by 3.0% during the 3rd quarter. BlackRock Inc. now owns 3,876,753 shares of the financial services provider’s stock worth $102,735,000 after acquiring an additional 114,209 shares during the last quarter. Bessemer Group Inc. grew its holdings in HomeStreet by 709.4% during the 4th quarter. Bessemer Group Inc. now owns 42,900 shares of the financial services provider’s stock worth $911,000 after acquiring an additional 37,600 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of HomeStreet by 575.4% in the 4th quarter. Acadian Asset Management LLC now owns 41,435 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 35,300 shares during the last quarter. 80.89% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: What is a Swap?

Get a free copy of the Zacks research report on HomeStreet (HMST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

Receive News & Ratings for HomeStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HomeStreet and related companies with MarketBeat.com's FREE daily email newsletter.