Zacks: Analysts Expect HomeStreet, Inc. (NASDAQ:HMST) Will Post Quarterly Sales of $131.31 Million

Wall Street brokerages expect HomeStreet, Inc. (NASDAQ:HMST) to report sales of $131.31 million for the current quarter, according to Zacks. Three analysts have provided estimates for HomeStreet’s earnings, with the highest sales estimate coming in at $134.78 million and the lowest estimate coming in at $128.20 million. HomeStreet reported sales of $158.55 million in the same quarter last year, which indicates a negative year over year growth rate of 17.2%. The company is expected to report its next earnings results on Monday, October 23rd.

According to Zacks, 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 year, analysts expect that the firm will post 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 a mean average based on a survey of research firms that that provide coverage for HomeStreet.

HomeStreet (NASDAQ:HMST) last announced its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.18. The business had revenue of $127.88 million during 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 last year, the company posted $0.90 EPS.

A number of research analysts have recently issued reports on HMST shares. FIG Partners lowered HomeStreet from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded HomeStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 29th. ValuEngine downgraded HomeStreet from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $31.00 price objective on shares of HomeStreet in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. HomeStreet presently has a consensus rating of “Hold” and an average price target of $29.45.

Shares of HomeStreet (NASDAQ HMST) traded down 1.39% during midday trading on Wednesday, reaching $24.90. 173,247 shares of the company’s stock traded hands. The company has a market capitalization of $669.41 million, a price-to-earnings ratio of 12.94 and a beta of 0.05. HomeStreet has a one year low of $22.85 and a one year high of $33.70. The company has a 50-day moving average of $26.94 and a 200-day moving average of $26.97.

In related news, EVP William Endresen sold 1,000 shares of HomeStreet stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $27.38, for a total value of $27,380.00. Following the transaction, the executive vice president now directly owns 1,170 shares in the company, valued at approximately $32,034.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.59% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of HMST. Dimensional Fund Advisors LP boosted its stake in shares of HomeStreet by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,214,492 shares of the financial services provider’s stock valued at $61,286,000 after buying an additional 240,299 shares during the period. Parametric Portfolio Associates LLC raised its position in HomeStreet by 43.7% in the second quarter. Parametric Portfolio Associates LLC now owns 66,774 shares of the financial services provider’s stock valued at $1,848,000 after buying an additional 20,296 shares during the period. Nordea Investment Management AB raised its position in HomeStreet by 29.8% in the second quarter. Nordea Investment Management AB now owns 72,154 shares of the financial services provider’s stock valued at $1,997,000 after buying an additional 16,570 shares during the period. California Public Employees Retirement System raised its position in HomeStreet by 2.7% in the second quarter. California Public Employees Retirement System now owns 45,200 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 1,200 shares during the period. Finally, Vanguard Group Inc. raised its position in HomeStreet by 8.9% in the second quarter. Vanguard Group Inc. now owns 1,407,312 shares of the financial services provider’s stock valued at $38,947,000 after buying an additional 115,204 shares during the period. 82.90% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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