Zacks: Brokerages Anticipate HomeStreet Inc (HMST) Will Post Quarterly Sales of $116.46 Million
Brokerages expect HomeStreet Inc (NASDAQ:HMST) to announce sales of $116.46 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for HomeStreet’s earnings, with the lowest sales estimate coming in at $109.23 million and the highest estimate coming in at $123.64 million. HomeStreet posted sales of $134.72 million in the same quarter last year, which would indicate a negative year over year growth rate of 13.6%. The company is scheduled to report its next quarterly earnings report on Monday, October 22nd.
According to Zacks, analysts expect that HomeStreet will report full-year sales of $460.91 million for the current financial year, with estimates ranging from $452.93 million to $471.61 million. For the next fiscal year, analysts expect that the business will report sales of $483.67 million per share, with estimates ranging from $474.68 million to $492.72 million. Zacks’ sales averages are an average based on a survey of research firms that cover HomeStreet.
HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $120.39 million during the quarter, compared to analyst estimates of $119.61 million. HomeStreet had a net margin of 11.40% and a return on equity of 6.66%. During the same period last year, the business earned $0.42 EPS.
NASDAQ:HMST traded down $0.30 on Tuesday, reaching $28.45. 931 shares of the stock traded hands, compared to its average volume of 60,262. The firm has a market cap of $755.35 million, a P/E ratio of 16.93, a P/E/G ratio of 1.74 and a beta of 0.30. 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 has a 12 month low of $24.50 and a 12 month high of $32.60.
In other news, EVP Mary L. Vincent sold 8,459 shares of HomeStreet stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $29.57, for a total value of $250,132.63. Following the completion of the sale, the executive vice president now directly owns 14,123 shares in the company, valued at $417,617.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Schultz sold 11,644 shares of HomeStreet stock in a transaction that occurred on Friday, July 27th. The stock was 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. Insiders own 1.64% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System boosted its holdings in shares of HomeStreet by 27.7% in the second quarter. California Public Employees Retirement System now owns 70,880 shares of the financial services provider’s stock worth $1,910,000 after buying an additional 15,384 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of HomeStreet in the second quarter worth approximately $451,000. Paloma Partners Management Co purchased a new position in shares of HomeStreet in the second quarter worth approximately $253,000. Bank of America Corp DE boosted its holdings in shares of HomeStreet by 4.9% in the second quarter. Bank of America Corp DE now owns 55,155 shares of the financial services provider’s stock worth $1,487,000 after buying an additional 2,584 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in shares of HomeStreet by 16.1% in the second quarter. OppenheimerFunds Inc. now owns 12,934 shares of the financial services provider’s stock worth $349,000 after buying an additional 1,795 shares during the last quarter. Hedge funds and other 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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