Zacks: Brokerages Anticipate HomeStreet, Inc. (NASDAQ:HMST) Will Announce Quarterly Sales of $143.41 Million
Analysts expect HomeStreet, Inc. (NASDAQ:HMST) to report $143.41 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for HomeStreet’s earnings, with estimates ranging from $136.00 million to $148.10 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 business is scheduled to issue its next quarterly earnings results after the market closes on Monday, July 24th.
According to Zacks, analysts expect that HomeStreet will report full year sales of $143.41 million for the current year, with estimates ranging from $554.62 million to $571.00 million. For the next year, analysts forecast that the company will post 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 sell-side research firms that cover HomeStreet.
HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, April 24th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. HomeStreet had a return on equity of 10.26% and a net margin of 10.46%. The business had revenue of $120.11 million for the quarter, compared to analysts’ expectations of $124.18 million. During the same quarter in the prior year, the firm posted $0.41 EPS.
Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of HomeStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $31.00 price target on shares of HomeStreet in a research report on Friday, June 2nd. Finally, FIG Partners lowered shares of HomeStreet from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. HomeStreet presently has an average rating of “Hold” and an average target price of $30.25.
HomeStreet (HMST) remained flat at $27.50 during midday trading on Thursday. 148,785 shares of the company were exchanged. The company has a market capitalization of $793.79 million, a P/E ratio of 11.63 and a beta of 0.07. The firm’s 50-day moving average is $27.68 and its 200 day moving average is $27.38. HomeStreet has a 1-year low of $21.01 and a 1-year high of $33.70.
In other HomeStreet news, EVP William Endresen sold 1,000 shares of HomeStreet stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $27.38, for a total value of $27,380.00. Following the transaction, the executive vice president now owns 1,170 shares in the company, valued at $32,034.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 7.59% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Swiss National Bank boosted its position in HomeStreet by 4.2% in the first quarter. Swiss National Bank now owns 34,900 shares of the financial services provider’s stock valued at $975,000 after buying an additional 1,400 shares during the last quarter. Stifel Financial Corp boosted its position in HomeStreet by 28.1% in the first quarter. Stifel Financial Corp now owns 55,100 shares of the financial services provider’s stock valued at $1,540,000 after buying an additional 12,100 shares during the last quarter. Fisher Asset Management LLC boosted its position in HomeStreet by 56.8% in the first quarter. Fisher Asset Management LLC now owns 67,187 shares of the financial services provider’s stock valued at $1,878,000 after buying an additional 24,346 shares during the last quarter. State of Tennessee Treasury Department boosted its position in HomeStreet by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 21,812 shares of the financial services provider’s stock valued at $610,000 after buying an additional 3,292 shares during the last quarter. Finally, Renaissance Technologies LLC boosted 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 during the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.
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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