$116.46 Million in Sales Expected for HomeStreet Inc (HMST) This Quarter
Wall Street brokerages expect that HomeStreet Inc (NASDAQ:HMST) will report $116.46 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for HomeStreet’s earnings, with estimates ranging from $109.23 million to $123.64 million. HomeStreet posted sales of $134.72 million in the same quarter last year, which suggests a negative year-over-year growth rate of 13.6%. The firm is expected to issue 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 fiscal year, with estimates ranging from $452.93 million to $471.61 million. For the next fiscal year, analysts forecast that the business will report sales of $483.67 million per share, with estimates ranging from $474.68 million to $492.72 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow HomeStreet.
HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, July 23rd. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. HomeStreet had a return on equity of 6.66% and a net margin of 11.40%. The business had revenue of $120.39 million for the quarter, compared to the consensus estimate of $119.61 million. During the same period in the previous year, the company posted $0.42 earnings per share.
HomeStreet stock traded down $0.20 during mid-day trading on Tuesday, hitting $28.55. The company had a trading volume of 156,323 shares, compared to its average volume of 60,426. The company has a current ratio of 1.06, a quick ratio of 0.96 and a debt-to-equity ratio of 1.65. HomeStreet has a 12 month low of $24.50 and a 12 month high of $32.60. The company has a market capitalization of $770.19 million, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.78 and a beta of 0.30.
In other news, EVP Mary L. Vincent sold 8,459 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $29.57, for a total value of $250,132.63. Following the completion of the transaction, the executive vice president now owns 14,123 shares in the company, valued at $417,617.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Schultz sold 11,644 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $29.48, for a total value of $343,265.12. The disclosure for this sale can be found here. 1.64% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in HomeStreet by 4.4% during the first quarter. Wells Fargo & Company MN now owns 155,389 shares of the financial services provider’s stock valued at $4,452,000 after acquiring an additional 6,572 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in HomeStreet by 14.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 130,129 shares of the financial services provider’s stock valued at $3,729,000 after acquiring an additional 16,815 shares during the last quarter. Systematic Financial Management LP purchased a new stake in HomeStreet during the first quarter valued at $1,404,000. Northern Trust Corp increased its position in HomeStreet by 0.6% during the first quarter. Northern Trust Corp now owns 496,984 shares of the financial services provider’s stock valued at $14,240,000 after acquiring an additional 2,999 shares during the last quarter. Finally, BlackRock Inc. increased its position in HomeStreet by 2.8% during the first quarter. BlackRock Inc. now owns 3,557,126 shares of the financial services provider’s stock valued at $101,912,000 after acquiring an additional 95,923 shares during the last quarter. Hedge funds and other institutional investors own 81.25% of the company’s stock.
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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